Canadian Per-Capita GDP Is Negative For A 5th Consecutive Quarter
Canada’s economy is expanding, but the details are worth reviewing before getting too excited. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) grew more than expected in Q2 2024. A dive into the details shows productivity further eroded on a per capita basis, while household spending weakened. Most growth is now government spending, accounting for a whopping 80% of the quarter. Canada increasingly resembles an economy in recession, despite not quite meeting the country’s preferred definition of one.
It’s all smoke and mirrors folks. Lies actually.
