Annualized rates are just forecasts and now that the CDN $ is getting stronger, the export/import ratio will weaken, but worst of all, we keep relying on the export of crude Oil from the Tar Sands and other regions. In my personal view, the first page of Globe and Mail on Sept 1st/17 misleads the reader about a healthy annualized GDP of 4.5% for 2017, because they failed profoundly to say that according to Statistics Canada 25.46% of that forecasted growth is only coming, and expected to continue to come, from the extraction and export of our natural resources in the mining, quarrying, oil and gas industries. CBC News published (July 28/17) that there is a healthy spending done by businesses and consumers, but the truth is that Canadian debt per capita is the highest it has been in Canadian history, and that is alarming. Statistics Canada confirmed that the Retail Trade and Wholesale Trade has increased 8.0 and 6.2 % respectively in 2017, which again, places a higher debt burden on the average Canadian through their banking lines of credit and their personal credit cards. Let us face it, Canada is not having a long term healthy growth, because of over 43% of the 4.5% annualized GDP growth for 2017, comes from the trade industry and extraction industry alone. When is PM Trudeau’s government really going to support the average Canadian family by implementing and promoting government programs to boost industrial manufacturing of goods in hopes to increase our export of finished goods manufactured in Canada while reducing our imports of those manufactured goods from abroad?
CREDIT TRAP TAR SANDS-businessinsider
NOTE: I am only trying to create awareness of our reality. We cannot believe all we read. Thanks and best!