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 […]
Canada’s economy went from struggling with productivity growth to an all-out crisis. That’s the take from TD this morning, who warns the productivity crisis is worsening. Skewed incentives have reallocated productive investment to non-productive areas, now consuming a larger share of the economy. If this persists, the bank warns that Canada will see further erosion […]
Canada will have a hard time putting a positive spin on the latest employment data. Statistics Canada (Stat Can) data shows the country added jobs in August but added 4x the volume of workers too. As a result, the unemployment rate pushed higher—especially in the country’s largest cities, which are now showing unemployment rates consistent […]
The Canadian population is surging but concerns of excess supply are still mounting. As widely anticipated, the Bank of Canada (BoC) announced a rate cut this morning at its September meeting. The central bank is seeing progress on inflation but it may be too much—they’re now worried about deflation. At least one of Canada’s largest […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Government Spending Now 80% of GDP Growth Canada’s economy grew faster than expected but still showed recession-like behavior. Annualized real GDP growth came in at 2.1% for Q2 2024, much higher than market expectations. However, the details were less flattering with […]
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 […]
Canada will try to break its rising dependence on low-wage, temporary foreign workers (TFWs). This week the Government of Canada (GoC) announced it will freeze processing of TFWs in some regions with elevated unemployment. Despite rising unemployment, the program has seen explosive growth with annual volumes rising 300% over the past five years. Just the […]
The Canadian economy isn’t technically in a recession; it just feels like one to most households. That was the take from Canada’s largest bank, which is raising concerns about the country’s economic setup. RBC economists warn that rapid population growth is boosting GDP, but it’s only obfuscating reality. More meaningful economic indicators, such as household […]
The Canadian population continues to advance at a breakneck speed. Statistics Canada (Stat Can) estimates the population reached a whopping 41 million people in Q1 2024, adding 0.6% (+242.7k) people in the quarter. The seasoanlly adjusted annual rate of growth fell to 3.0%, trimming 0.2 points from the previous quarter. Experts believe it’s too early […]
Canada’s growth strategy is ineffective, and actually putting it further behind. That’s the general takeaway from the OECD’s 2024 Economic Outlook for Canada. The intergovernmental organization representing advanced economies, congratulates the country on its record population growth. It’s unclear how this occurs with low real GDP growth and rising unemployment, but the agency has a […]
