Canadian real GDP made no progress in the latest report. Seasonally adjusted it was unchanged in August, following just 0.1% growth a month prior. Goods producing industries (-0.4%) were hit the worst, while services (+0.1%) managed to inch out minimal growth. Adjusting for population emphasizes this isn’t a zero growth environment, but a record addition of new people consuming goods and services were needed to get up to zero. Eroding productivity and quality of life is just part of the bad news. The bank also points out that private business growth is contracting, a problem that was suggested with yesterday’s data on stagnant business growth in 2024. The economy’s growth is now confined to public sector spending, and not where many would hope. https://betterdwelling.com/canadian-gdp-driven-solely-by-public-admin-biz-growth-turns-negative/