Report: Canadian GDP Flat, Economy Stagnates

Oil & gas industry declines.

Canada’s economy is stagnating.

The latest GDP numbers show zero growth in July, the last month for which GDP figures are available.

The oil & gas sector is down 3%.

As noted by BNN Bloomberg, this is “the fourth straight month growth either decelerated or was flat.”

In addition to the weakness in the oil & gas sector, construction and manufacturing both declined.

Expect the Liberals to downplay this report, as they continue trying to sell the fiction that the economy is alright.

Of course, we know that the economy is in big trouble, with rising household debt, a rising cost of living, and economic stagnation pushing us closer to a crisis.

Spencer Fernando

Photo – YouTube