Canada's Standard of Living Faces Worst Decline in 40 Years

Canada's standard of living is declining despite high aggregate GDP growth. From 2000 to 2023, Canada's per capita GDP growth was one of the lowest in the G7. A Fraser Institute study reveals Canada's real GDP per person fell 3% from 2019 to 2023, marking one of the deepest declines since 1985. If this trend continues, it may surpass the downturns of the late 1980s and 2008-2011.