“…the decay in Canadian economic activity is just continuing,” says David Rosenberg.
While the Liberal government continues to pretend per capita GDP doesn’t exist, a top Canadian economist is warning of Canada’s ongoing economic ‘decay’:
“I think that the Canadian economy is pretty well flat on its back,” David Rosenberg, founder and president of Rosenberg Research, told BNN Bloomberg in a Thursday interview.
“Unlike in the U.S., where real GDP (gross domestic product) growth is over three per cent year-over-year, it’s 0.9 per cent here… 0.9 per cent with population growth of 3.2 per cent, so in real per capita terms, the decay in Canadian economic activity is just continuing.”
This is a point we must keep repeating. Judging Canada’s economic health by the raw GDP growth rate gives us a false picture because massive immigration growth skews things.
The number to look at it is per capita GDP and – as noted by Rosenberg – Canada is decaying in that regard.
Spencer Fernando
