Canada faces a 40-year low in living standards; worst growth among 50 economies.

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According to a recent study by the Fraser Institute, Canada’s standard of living is on track for its worst decline in 40 years. The study highlights that Canada’s GDP per capita has been falling at a rate of 0.4% per year since 2020, which is the worst rate among 50 developed economies. This decline in living standards is attributed to several factors, including economic policies and population growth that hasn’t translated into per capita income growth.

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Sources:

https://financialpost.com/news/canada-standard-of-living-faces-worst-decline-40-years

https://finance.yahoo.com/news/canada-standard-living-track-worst-164145332.html

https://www.dailysignal.com/2024/07/25/canadas-worst-decline-40-years/


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