Consumers continue to spend despite rising borrowing costs
The eurozone had a technical recession, with output dropping in Q4 2022 and Q1 2023
Supply chains are good now but demand is lacking
Statistics Canada reports real gross domestic product grew at annualized rate of 3.1% in Q1
Despite the first-quarter slowdown, consumer spending reflected confidence
Canada led the G7 while U.S. growth slowed in the first quarter
No recession but output dropped in several sectors affected by strikes
February growth below forecast with contractions in manufacturing, wholesale and retail trade
Slowdown reflects impact of Federal Reserve's aggressive drive to tame inflation
EU member countries must thrash out the details of new rules, aimed at meeting ongoing monetary challenges