Jul 9, 2026 · 18 min · 7 segments
The Canadian economy is at stall speed and the BoC is in a holding pattern. There has been no GDP growth and anemic employment gains over the last year – amid the dual forces of a population and trade…
Jason DawHost
Simon DeeleyHost
The best way to probably characterize what's happened in the economy over the past year is that it's been at stall speed.
GDP growth has been zero, and that's been the result of two unprecedented shocks that have hit the economy.
The first one, and probably the most important, has been population growth, which has effectively been zero.
And then there has been trade uncertainty, which is probably a secondary consideration, but one that was still important as far as how the economy evolved.
So the question then really is, is 0% growth really all that bad? And I think when you calibrate that against population, which was effectively 0% growth, and labor productivity, which was slightly negative over the past year, 0% is not all that bad and really just reflects the potential GDP for the economy.
What is kind of the outlook going forward? It seems like there's maybe some more bright spots.
The best way to probably characterize what's happened in the economy over the past year is that it's been at stall speed.
GDP growth has been zero, and that's been the result of two unprecedented shocks that have hit the economy.
The first one, and probably the most important, has been population growth, which has effectively been zero.
And then there has been trade uncertainty, which is probably a secondary consideration, but one that was still important as far as how the economy evolved.
So the question then really is, is 0% growth really all that bad? And I think when you calibrate that against population, which was effectively 0% growth, and labor productivity, which was slightly negative over the past year, 0% is not all that bad and really just reflects the potential GDP for the economy.
What is kind of the outlook going forward? It seems like there's maybe some more bright spots.
The rest of this transcript — segmented and speaker-labeled, so you land on the exact moment something was said
Search every transcript — by keyword, by phrase, or by meaning, across every show Radar indexes
Trends — what is surging across podcasts, measured against its own baseline
Alerts — when a name you follow appears in a newly indexed episode
No account is needed to search Radar.
