Albas: Troubling signs for Canadian economy

Local MP Dan Albas.— image credit: Contributed

Recently Statistics Canada released the GDP, income and expenditure report for Canada’s second quarter revealing some troubling indicators.
Real GDP growth decreased .4% and while that may not seem like a significant drop, it is the largest quarterly decline since 2009.
Another area of concern is business investment that has continued to decline for the last several quarters.  Looking at the numbers from a sector by sector perspective construction has declined while the public sector has increased in size.
Fortunately there are some promising indicators with some growth in manufacturing output along with an increase in mining along with oil and gas extraction.
For many of these reason the Bank of Canada announced the key interest rate will remain at .5% with a forecast for increased GDP growth in the next fiscal quarter.
I mention some of Canada’s fiscal indicators in this week’s …