Conservative leadership candidate Kevin O’Leary will like the latest GDP figures; at least he will if he is being honest about how fast he thinks Canada’s economy needs to grow in order for society to function property.
Statistics Canada reported late last week that gross domestic product increased 0.6 percent in January to $1.7 trillion. That’s a big gain; Bay Street and the folks at the Flaherty Building, the new home of the Finance Department in Ottawa, would have been happy with a number half that size. Canada’s economy likely grew at an annualized rate well in excess of three per cent in the first quarter.
It won’t last.
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