Raw GDP growth numbers mean nothing when that growth is based entirely on a rapidly rising population.
It is often possible to present a deceptive narrative even without making things up.
Presenting information without context can lead people to believe something positive is happening when the situation is negative.
For example, Canada’s economy is growing at a slow pace according to Statistics Canada, something the Liberals will hype up as ‘evidence’ of their economic management since Canada may technically avoid recession.
According to Statistics Canada, the economy is likely to have grown by 1.5% in 2023:
“With this advance estimate for December, information on real GDP by industry suggests that the economy expanded 0.3% in the fourth quarter and 1.5% in 2023 as a whole.”
By contrast, the US economy grew by 2.5%.
Looking at the two numbers, Canada doesn’t seem too far off from the strong US economy.
But that doesn’t tell the whole story.
Canada’s population grew by 3.2% last year.
The US population grew by 0.53% over that same period.
Thus, Canada’s economy is 1.7% weaker on a per capita basis, while the US economy is 2% stronger on a per capita basis.
Our economic growth can’t keep up with population growth, while US economic growth exceeds population growth.
Americans are getting richer, Canadians are getting poorer.
So, when the Liberals hype up the supposed growth of our economy, they are hyping up quantity over quality, and are ignoring the fact that our declining per capita GDP means the potential for greatness, individual achievement, and innovation are being subsumed by massive population increases and declining productivity.
In the way that really matters – the quality of life of Canadians – our country is in serious decline.
Spencer Fernando
