Canada’s gross domestic product per capita: Perspectives on the return to trend

Carter McCormack and Weimin Wang

Economic and Social Reports from Statistics Canada, Analytical Studies and Modelling Branch

Abstract: Slower economic growth over the past year and near-record population increases fuelled by temporary and permanent immigration have put the spotlight on recent trends in Canada’s gross domestic product (GDP) per capita. Real GDP per capita has now declined in five of the past six quarters and is currently near levels observed in 2017. Recent reports by Porter (2024), Ercolao (2023), and Marion and Ducharme (2024) have all stressed the trend towards weaker per capita growth, highlighting its negative implications for living standards and wage growth. Recent declines in per capita output have also brought concerns over Canada’s weak productivity performance to the fore, since historically, much of the long-term growth in GDP per capita has reflected sustained improvements in labour productivity.

Keywords: GDP; temporary and permanent immigration; per capita growth; wage growth; living standards (search for similar items in EconPapers)
JEL-codes: J23 M21 (search for similar items in EconPapers)
Date: 2024-04-24
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Persistent link: https://EconPapers.repec.org/RePEc:stc:stcp8e:202400400001e

DOI: 10.25318/36280001202400400001-eng

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