2023 was supposed to be the year when the impact of the epidemic narrowed and economic order returned，but the Canadian economy struggled to recover as the lagged effects of high interest rates continued to permeate the economy，with insufficient growth momentum and lingering inflationary pressures. Canadian real GDP grew by 1.24% in 2023 compared to the previous year，the lowest growth rate since 2016. Increases in imports and household spending supported overall growth，while lower business investment and a slower rate of inventory accumulation weighed on growth. In terms of quarterly trends，the Canadian economy followed a U-shaped pattern in 2023. After strong growth in the first quarter，economic growth continued to decline in the second and third quarters due to a combination of rising interest rates，high inflation，natural disasters and strikes，until exports rebounded in the fourth quarter，Which veversed the downward trend. This indicates that internal and external risk factors remain prominent and that the foundation for economic stabilization is not yet solid. Although the Canadian federal government has adopted a series of incentive policies，the Canadian economy still faces considerable challenges in the future. Firstly，high inflation is putting pressure on the average family in terms of food and rental prices，and causing many businesses to increase their operating costs. Secondly，long-term low labor productivity will also have a negative impact on the economy. 2024 will be an important turning point for Canada’s economic development in the next decade.