We recently compiled a list of the 7 Most Profitable Canadian Stocks To Invest In. In this article, we are going to take a look at where Waste Connections (NYSE:WCN) stands against the other profitable Canadian stocks.
Economy of Canada
According to a report by S&P Global, Canada’s economy is showing signs of recovery, with growth expected to pick up pace in the coming years. Although the forecasted GDP growth of 1.2% in 2024 and 2.0% in 2025 is still below the country’s potential growth rate of 1.8%, it’s a step in the right direction.
The labor market is experiencing a slowdown, with reduced hiring and rising unemployment. Whereas, wage growth is currently outpacing productivity growth, which is inconsistent with the 2% inflation target. The unemployment rate is expected to reach 7% by the end of 2024 before declining in 2025.
However, the Bank of Canada is turning its focus to potential risks to economic growth, despite the current…
