STALLED: Economy Recorded Zero GDP Growth In October

The latest GDP numbers shows Canada’s economy has stalled, with mining and oil & gas extraction falling.

Canada’s economy fell short of economists predictions of 0.2% growth in October, instead stalling entirely.

The key factor in the stalled economy was the decline in mining and oil & gas extraction. That sector fell by 1.1%.

According to Reuters,“It was the fourth decline in the sector in five months as non-conventional oil extraction fell, partly due to a loss of capacity during maintenance. Mining also declined by 0.8 per cent.”

The low numbers come as there are increasing concerns about Canada’s housing market (the most unaffordable in 27 years), household debt levels (the highest on earth), and increasing taxes that are all pushing the economy in a dangerous direction.

While the economy has been on a sugar-high from low interest rates and massive borrowing, that is not sustainable forever.

Additionally, the vast majority of Canadians are not experiencing the benefit of economic growth, as repeated surveys shows widespread pessimism about the future of our economy.

Making matters worse, the government continues to increase taxes and increase regulations, while implementing policies that reduce the bargaining power of individual workers, which drives people further into debt.

With interest rates expected to continue climbing, Canada is headed for some serious economic trouble.

Spencer Fernando

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Dave Bainard

I still think StatsCan is adjusting data to fit the liberal narrative. Where have we seen this happen before? Try U of East Anglia making up numbers to create a global warming crisis. Aren’t liberal number crunchers a wonderful bunch?

Andrew Dickson

President Trump… please help us… help take down this evil empire… help us Obi-wan Kenobi… you’re our only hope…

Bob Fry

If a Canadian Household ran their Finances the way the Liberal Government is spending, the following would happen at the Bank, The young couple would go into the Bank and request more money to satisfy their daily needs and to meet bill payments. How do you think the Bank would react, not very favorable, in fact as the couple left the Bank slightly perplexed over the hesitation of the bank to expand their line of credit. The Bank after this meeting would Freeze their account, and start making demands, like removing their over draft, cancelling credit cards. Well it’s the… Read more »