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Canada's GDP growth rate was reduced in the second quarter to a rate of only 2% per year, down from a rate of 2.90% in the second quarter.
Business spending slowed, along with reduced spending on the part of consumers up just 0.3% in the quarter – and keep in mind that figures also includes regular increases on everyday household items; Inflation, in other words.
But rest assured folks, there are always opportunities available to make money in the stock market.
Take for example the three TSX Index stores, all who pay a dividend and will unknowingly be significantly larger companies in ten years today.
Toronto Dominion Bank (TSX: TD) is Canada's second largest bank, which also makes it the second largest company of any kind in the country, second only to its young banking competitor, Royal Bank of Canada.
But TD's made great strides south of the border in recent years, establishing a major retail network, primarily along the US Eastern seaboard.
And in case you did not know, Americans are in a far better position to be borrowing money from financial institutions these days.
Plus, TD is a much more diversified bank than it was in the 2008-09 financial crises.
It will be interesting to see the next great move that TD's leadership team takes with the bank.
If you're reading this and asking yourself how BlackBerry Ltd (TSX: BB) (NYSE: BB) could possibly make this list, you probably have not been following the company recently.
This simply is not a smart phone handset manufacturer anymore.
Under the new CEO John Chen, the Waterloo-based IT company has made a decision pivot away from hardware in favor of focusing on its strength, software and security.
BlackBerry has always been revered for its leading edge security technology and with literally millions of new devices that are added to networks every day, the strategy is definitely like a non-brighter.
Canadian National Railway (TSX: CNR) (NYSE: CNI) is about how intrinsically linked to the Canadian as you can, a close second being potentially one of the major financial institutions in the country.
And the CNR stock was also a real thing.
CNR shares have more than sixtupled over the past 10 years, which will have a $ 10,000 investment in more than $ 60,000.
However, with the stock up that much that fast, it may be better to wait on a minor pullback to get in the stock.
The CNR shares are currently 1.6%.
Personally, I'd want to get a better return than on my investment like that.
Bottom line
The stock market is sluggish so far to start the fourth quarter.
Now, as a good time, investing in quality companies, like the three, can be safe even in an economic downhill.
NAR Contributor Jason Philips has no position in any of the mentioned stocks. David Gardner owns shares of Canadian National Railway. The motley NAR owns shares of BlackBerry and Canadian National Railway. CNS and BlackBerry are recommendations of Stock Adviser Canada.
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