Blog – GDP Analysis and Commentary – Canada – March 2023 Real gross domestic product (GDP) was essentially unchanged in March, following a 0.1% increase in February. Service-producing industries (+0.0%) were flat, whereas goods-producing industries (-0.1%) edged down. Overall, 12 of 20 industrial sectors posted increases in March. Public sector continues upward momentum The public sector (educational services, health care and social assistance, and public administration combined) continued its upward momentum, increasing 0.3% in March and rising continuously since February 2022. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/230531/dq230531b-eng.htm Additional sources and links GDP / Canada - https://financialpost.com/pmn/business-pmn/canadas-q1-gdp-outperforms-with-3-1-growth-april-seen-up-0-2 Government spending - https://www.bloomberg.com/news/articles/2023-05-31/canada-economy-grows-3-1-in-first-quarter-beating-expectations#xj4y7vzkg Oil Production - https://www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-05-30/ LNG Production - https://www.bnnbloomberg.ca/european-gas-slips-as-sluggish-chinese-data-damps-lng-demand-1.1926881 Food costs and security - https://ca.sports.yahoo.com/news/under-pressure-government-looks-food-191700923.html Tech Trends - https://www.europeanbusinessreview.com/tech-business-trends-to-watch-in-2023/ ESG - https://environment-analyst.com/global/109439/from-compliance-to-value-creation-preparing-for-esg-disclosure-rules Advertising - https://www.adweek.com/agencies/global-ad-spend-on-the-rise-but-digital-growth-is-slowing/ Global Inflation - https://www.euromonitor.com/article/global-inflation-tracker-q2-2023-inflation-trends-down-but-labour-markets-pressure-services-prices Lithium - https://www.bnnbloomberg.ca/chile-sees-lithium-swinging-into-surplus-as-new-supply-arrives-1.1926597 Productivity - https://energynow.ca/2023/05/philip-cross-canadas-worst-decade-for-real-economic-growth-since-the-1930s-learn-why-here/ Manufacturing - https://www.bnnbloomberg.ca/canadian-economic-growth-tops-forecasts-boosting-rate-hike-odds-1.1927014

1. CANADA GDP ANALYSIS –
MARCH 2023
Paul Young CPA
CGA
May 31, 2023

2. Paul Young – Bio
Pre-Sales, Business
Development, and Customer
Success Expert
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Sustainable and ESG Policy
Development and Reporting
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos

3. Agenda
• G20 GDP Growth
• G7 GDP Growth
• GDP Analysis – Canada
• GDP Analysis – Canada vs Australia
5/31/2023 3

4. G20 GDP Growth
5/31/2023 4

5. G7 GDP Growth
5/31/2023 5

6. GDP Analysis
Source – Stats Canada
5/31/2023 6

7. GDP Analysis
Source – Stats Canada
5/31/2023 7

8. GDP Analysis
Source – Stats Canada
5/31/2023 8

9. GDP Analysis
Source – Stats Canada
5/31/2023 9

10. GDP – Australia vs Canada
5/31/2023 10

11. Addressing slow growth
• Streamlining regulations as part of getting goods out of the ground to market
• Making key infrastructure capital expenditure in areas like ports, roads, and bridges.
• Addressing issues with taxation system as part of ensuring Canada has competitive tax
system with its peers around the world
• Supporting policies that will improve productivity like changes to capital cost allowance or
encouraging R&D spending on innovation or closing the skills gap as part of addressing
labor shortages.
• Streamlining government including more digital adoption
• Addressing systemic issues with affordable housing like cost/availability of land, cost of
raw materials and labor, adopting new technology like 3D printing of housing, etc.
• Promoting policies that encourage FDI inflow and outflow. The key is focusing on policies
that will keep Canada’s capital market competitive with other jurisdiction.
• Addressing the size of government through digital adoption along with value for money
and performance audits.
5/31/2023 11

12. Summary
• Canada GDP continues to face many challenges
5/31/2023 12
Blog – GDP Analysis and Commentary – Canada – March 2023
Real gross domestic product (GDP) was essentially unchanged in March, following a 0.1%
increase in February. Service-producing industries (+0.0%) were flat, whereas goods-producing
industries (-0.1%) edged down. Overall, 12 of 20 industrial sectors posted increases in March.
Public sector continues upward momentum
The public sector (educational services, health care and social assistance, and public
administration combined) continued its upward momentum, increasing 0.3% in March and
rising continuously since February 2022.
Source - https://www150.statcan.gc.ca/n1/daily-quotidien/230531/dq230531b-eng.htm
Additional sources and links
GDP / Canada - https://financialpost.com/pmn/business-pmn/canadas-q1-gdp-outperforms-
with-3-1-growth-april-seen-up-0-2
Government spending - https://www.bloomberg.com/news/articles/2023-05-31/canada-
economy-grows-3-1-in-first-quarter-beating-expectations#xj4y7vzkg
Oil Production - https://www.reuters.com/business/energy/why-is-opec-cutting-oil-output-
2023-05-30/
LNG Production - https://www.bnnbloomberg.ca/european-gas-slips-as-sluggish-chinese-data-
damps-lng-demand-1.1926881
Food costs and security - https://ca.sports.yahoo.com/news/under-pressure-government-looks-
food-191700923.html
T
ech Trends - https://www.europeanbusinessreview.com/tech-business-trends-to-watch-in-
2023/