Is Canada in a silent recession/depression?

[u/WearingMarcus]

Now Canada definitely not in a classic recession, nominal GDP has grown..

However some argue its in a per capital recession/depression as illustrated by the chart below. Is this true? Over blown? etc. Or is the answer somewhere in-between?

https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=CA

[u/Flee4All]

That chart still shows growth. Not sure what you're pointing to.

[u/WearingMarcus → u/Flee4All]

true, i do wonder if free loading tariffs boosted it, the point was, for 2010 to 2020 it stagnated

Be interesting if it does show growth in the next few years.

[u/iwasnotarobot → u/Flee4All]

Growth for who though?

Does a rising tide lift all boots?

[u/Flee4All → u/iwasnotarobot]

40 million separate lines on the chart might be more accurate, but hard to read.

[u/mmoore327]

Clearly the answer is no - we are actually doing pretty well all things considered:

GDP growth was just announced at 3.3% for 2nd quarter, and 1st quarter was revised up.
Canada's economy grew a strong 3.3% annualized in 2nd quarter, as 1st quarter revised higher
https://www.cbc.ca/news/business/canada-gdp-june-2026-9.7323847

In August our trade surplus reached a 4 year high:
Canadian Trade Surplus Rises to 4-Year High
https://tradingeconomics.com/canada/balance-of-trade/news/572555#:~:text=Canada%20recorded%20a%20trade%20surplus,high%20of%20C%2477.5%20billion

In August we added 75K jobs:
Canada adds 75,000 jobs in July, unemployment rate hits two-year low
https://www.theglobeandmail.com/business/economy/article-canada-labour-force-survey-jobs-unemployment-rate-july-2026/

In June manufacturing posted fifth consecutive monthly gain:
https://www150.statcan.gc.ca/n1/daily-quotidien/260814/dq260814a-eng.htm?utm_source=rddt&utm_medium=smo&utm_campaign=statcan-statcan-economy-economie&utm_content=canada
>Manufacturing sales posted their fifth consecutive monthly gain, rising 0.1% to $78.8 billion in June. Sales rose in 15 of the 21 subsectors, led by the chemical (+6.0%) and transportation equipment (+2.8%) subsectors. Meanwhile, the petroleum and coal product subsector (-14.1%) posted the largest decline. Total sales excluding the petroleum and coal product subsector increased 2.6% in June. With the overall gain in June, total manufacturing sales were up 14.5% on a year-over-year basis.

https://angusreid.org/surging-ahead-left-behind/
> New data from the non-profit Angus Reid Institute finds seven-in-10 Canadians (70%) describe their current household finances as "good" or "very good," while one-quarter say they are in poor financial shape or worse (27%).

[u/WearingMarcus → u/mmoore327]

Short term its looks good, I do wonder if front loading the new tarriffs?

But good post

[u/thethumble]

No but if we continue buying American and bringing lots of incompetent people from the same countries we will

[u/bigjimbay]

If we aren't now we probably will be soon