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/

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Adding, “A tax rate just in line with the U.S. is probably not sufficient to counteract the country’s inherent strengths in drawing in investment and talent. Canada must aim to do better in order to level the playing field.” TD is far from the only firm criticizing the lack of productivity being fostered in Canada. Earlier this year, the Bank of Canada (BoC) warned the country’s lack of productive growth is at “crisis” levels and needs to be addressed immediately. The OECD also forecasts Canada’s per-capita real GDP growth will be dead last among advanced economies for the next 40 years. That was based on pre-pandemic data too, which has since worsened. https://betterdwelling.com/canadian-real-estate-fueling-productivity-crisis-quality-of-life-to-erode-td/

Canada’s productivity crisis “getting worse” and lagging behind U.S.: report 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://tnc.news/2024/08/31/canadas-productivity-crisis-getting-worse-and-lagging-behind-u-s-report/ via @truenorthcentre

Canadian builders taking fewer projects, plan to cut productivity in half 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://tnc.news/2024/08/26/builders-taking-fewer-projects/ via @truenorthcentre

Labour productivity, measured as GDP per hour worked, increased by 10.3%, but this growth lagged behind the OECD average of 11.2%. Additionally, GDP per worker grew by 6.8%, further underscoring Canada’s position as one of the slower-growing economies among its OECD peers. https://www.fraserinstitute.org/studies/comparative-analysis-of-the-economic-performance-of-canada-and-its-oecd-competitors-2007-2019

#China #AI #SurveillanceSystem An employee productivity monitoring system using AI is reportedly under development in China https://x.com/shota7180/status/1789250695725797878

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Bank of Canada warns low productivity will lead to further inflation 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://tnc.news/2024/04/01/bank-of-canada-low-productivity/ via @truenorthcentre

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