Report: Canadian GDP Flat, Economy Stagnates

Oil & gas industry declines.

Canada’s economy is stagnating.

The latest GDP numbers show zero growth in July, the last month for which GDP figures are available.

The oil & gas sector is down 3%.

As noted by BNN Bloomberg, this is “the fourth straight month growth either decelerated or was flat.”

In addition to the weakness in the oil & gas sector, construction and manufacturing both declined.

Expect the Liberals to downplay this report, as they continue trying to sell the fiction that the economy is alright.

Of course, we know that the economy is in big trouble, with rising household debt, a rising cost of living, and economic stagnation pushing us closer to a crisis.

Spencer Fernando

Photo – YouTube

5
Share Your Thoughts

avatar
5 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
5 Comment authors
Shawn HarrisSuepancake rachel corrieNancyWJoanne Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Joanne
Guest
Joanne

This is no surprise. We cant rax and spend our way to prosperity.

NancyW
Guest
NancyW

It still hasn’t kept all the big spending promises from politicians, the Conservatives should be jumping on this, even more so, especially with the huge number of newcomers to Canada and all the homeless numbers increasing across the country. These numbers are also questionable as lieberals really can’t add or subtract and neither can stats Canada. Neither can Ontario’s teachers they are ready to strike if they do not get a big pay raise again, who cares about the debts, the world is ending it is a climate emergency, so pay even more in taxes and create even more debt?

pancake rachel corrie
Guest
pancake rachel corrie

Dont worry the budget will balance itself

Sue
Guest
Sue

Unfortunately this is not shocking, and what Justin wants to happen if we read and concur with the story about Communism coming to Canada in Spencers reporting. “Entropy” was how Justin let it slip a few years ago.

Shawn Harris
Guest
Shawn Harris

Just how many times does our economy have to be crushed by socialists with pie in the sky dreams, before the public will say no more to this pointless devastation of our lives. Surely everyone can see that Trudeau hasn’t any concern for the effects of his policies , or if he does he wouldn’t have used the same economic playbook that McGuinty and Wynne used over the course of 15 years of socialist rule in Ontario. That resulted in a world leading level of debt and a failed provincial economy. Trudeau has this twisted belief that a state controlled… Read more »