Canada's GDP per capita has been DECLINING in 2023 and 2024, leading to concerns about stagnating living standards. This trend is driven by strong population growth (fueled by immigration) outpacing economic growth, resulting in a decline in per-person wealth and a widening economic gap with countries like the United States.
Key details of the decline:
Declining trend:
Canada's real GDP per capita declined by 1.3% in 2023 and 1.4% in 2024.