Canada’s economic output is stronger than expected but far from impressive. Statistics Canada (Stat Can) real Gross Domestic Product (GDP) grew in July, following up a flat month. Any positive expectations are cooled by the details, revealing a few only-in-recession data points. That includes government stimulus in the form of public sector expansion being one of the few primary drivers of growth. Economic output is also significantly behind population growth, continuing the trend of per-capita GDP contractions that have never been this deep outside of a recession.
