Canada's Economy Grows Slightly, but Productivity Remains a Concern

When Statistics Canada released the latest gross domestic product ( GDP ) data at the end of February, the country’s avoidance of a recession during difficult economic times failed to cheer many economists, pundits and business leaders. Yes, Canada ’s real GDP grew by 0.2 per cent in the fourth quarter of 2023, even as the Bank of Canada seeks to keep the economy cool with higher interest rates.

But, worried voices warn, a related statistic reveals a serious problem with the country’s productivity — with implications for everything from population to policy to our standard of living.Real GDP is a measure of the value of goods and services produced in a particular time period — how much wealth the country is producing, essentially. Because it is adjusted for inflation, we can compare one year to the next.Real GDP per capita divides the real GDP figure by population, telling us how much wealth the average person is producin

Source: Financial Digest (financialdigest.net)

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