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

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  • Carter McCormack
  • Weimin Wang

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.

Suggested Citation

  • Carter McCormack & Weimin Wang, 2024. "Canada’s gross domestic product per capita: Perspectives on the return to trend," Economic and Social Reports 202400400001e, Statistics Canada, Analytical Studies and Modelling Branch.
    • Handle: RePEc:stc:stcp8e:202400400001e
    DOI: https://doi.org/10.25318/36280001202400400001-eng
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    References listed on IDEAS

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    1. Yvan Guillemette & David Turner, 2021. "The long game: Fiscal outlooks to 2060 underline need for structural reform," OECD Economic Policy Papers 29, OECD Publishing.
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    More about this item

    Keywords

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    JEL classification:

    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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