Fraser Institute News Release: GDP growth rates—when not adjusted for population—provide misleading picture of Canadian economy
“Canadian governments of all stripes have for many years touted Canada’s economic growth using the overall GDP growth rate.
- “Canadian governments of all stripes have for many years touted Canada’s economic growth using the overall GDP growth rate.
- But because of Canada’s massive spike in population in recent years, not adjusting GDP growth for population changes provides a misleading picture of the country’s economic performance,” said Ben Eisen, senior fellow at the Fraser Institute and co-author of GDP Growth Unadjusted for Population Change—a Misleading Measure of Canada’s Economic Progress.
- For example, between 2020 and 2023, Canada had the second-highest rate of overall GDP growth in the G7.
- However, after adjusting for population growth, Canada’s per-person GDP growth rate over the same period is near the bottom of the group and well below the G7 average.