Blog – GDP Analysis – Canada and the World – June 2023 • Prior month 0.0% revised to +0.1% • April GDP 0.0% versus 0.2% expected • goods producing industries up 0.1% • service producing industries 0.0% • 11 of 20 industrial sectors posted increases • Advanced GDP for May is expected at 0.4%. The advanced number for April was expected at 0.2% Looking at some of the details: • The manufacturing sector declined 0.6% in April, down for the first time in four months, as both durable and non-durable goods manufacturing were down in the month. • Transportation and warehousing (+0.4%) was up for the second consecutive month as six of nine subsectors increased in April. • Wholesale trade contracted 1.4% in April, as wholesaling activity declined in six of nine subsectors. This was the third consecutive month of decline in the sector. • The real estate and rental and leasing sector grew for a sixth consecutive month, expanding 0.5% in April. It is the sector's largest growth rate since December 2020. • Construction activity grew 0.4% in April, as lower residential building construction was more than offset by broad-based increases in other types of construction. • The public sector (educational services, health care and social assistance and public administration) experienced its first decline since January 2022, with a 0.3% contraction in April 2023. While both educational services as well as health care and social assistance remained flat, public administration recorded a large decline (-1.0%). • Mining, quarrying, and oil and gas extraction (+1.2%) grew in April as all subsectors were up. This was the fourth consecutive month of growth in the sector. GDP is muddling along over the last 3 months with 0.1%, 0.1% and 0.0% MoM numbers. Next month is looking better, however.. The USDCAD is backing off a bit from the swing area on the hourly chart between 1.3271 and 1.32853. The high prices 1.32729. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/230630/dq230630a-eng.htm or GDP - https://www.marketpulse.com/fundamental/impressive-gdp-and-personal-consumption-drive-fed-rate-hike-bets/emoya Cobalt and Lithium - https://asia.nikkei.com/Business/Markets/Commodities/Chinese-EV-market-slowdown-slashes-lithium-cobalt-prices Oil and gas - https://www.cnbc.com/2023/06/30/energy-transition-is-lagging-oil-demand-will-stay-industry-players.html Australia - https://www.zawya.com/en/world/china-and-asia-pacific/australias-budget-surplus-swells-cuts-borrowing-needs-vk2k8ufk GDP - https://www.aigroup.com.au/resourcecentre/research-economics/economics-intelligence/2023/june-global-economic-forecasts/ Inflation - https://www.hellenicshippingnews.com/global-inflation-forecasters-reflect-on-a-humbling-task/ Food costs and security - https://www.cleanenergywire.org/news/eu-climate-policy-must-put-more-focus-food-security-german-farmers Construction costs - https://globalnews.ca/news/9801249/homebuilding-costs-have-surged-51-since-the-pandemic-began/ Housing

1. CANADA GDP ANALYSIS –
APRIL 2023
Paul Young CPA
CGA
June 30, 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
6/30/2023 3

4. G20 GDP Growth
6/30/2023 4

5. Australia, USA and Canada – GDP / Inflation
6/30/2023 5

6. G7 GDP Growth
6/30/2023 6

7. GDP Analysis
Source – Stats Canada
6/30/2023 7

8. GDP Analysis
Source – Stats Canada
6/30/2023 8

9. GDP Analysis
Source – Stats Canada
6/30/2023 9

10. GDP Analysis
Source – Stats Canada
6/30/2023 10

11. GDP – Australia vs Canada
6/30/2023 11
Year over Year

12. 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.
6/30/2023 12

13. Summary
• Canada GDP continues to face many challenges
6/30/2023 13
Blog – GDP Analysis – Canada and the World – June 2023
 Prior month 0.0% revised to +0.1%
 April GDP 0.0% versus 0.2% expected
 goods producing industries up 0.1%
 service producing industries 0.0%
 11 of 20 industrial sectors posted increases
 Advanced GDP for May is expected at 0.4%. The advanced number for April was
expected at 0.2%
Looking at some of the details:
 The manufacturing sector declined 0.6% in April, down for the first time in four
months, as both durable and non-durable goods manufacturing were down in the month.
 Transportation and warehousing (+0.4%) was up for the second consecutive month as
six of nine subsectors increased in April.
 Wholesale trade contracted 1.4% in April, as wholesaling activity declined in six of nine
subsectors. This was the third consecutive month of decline in the sector.
 The real estate and rental and leasing sector grew for a sixth consecutive month,
expanding 0.5% in April. It is the sector's largest growth rate since December 2020.
 Construction activity grew 0.4% in April, as lower residential building construction was
more than offset by broad-based increases in other types of construction.
 The public sector (educational services, health care and social assistance and public
administration) experienced its first decline since January 2022, with a 0.3% contraction
in April 2023. While both educational services as well as health care and social assistance
remained flat, public administration recorded a large decline (-1.0%).
 Mining, quarrying, and oil and gas extraction (+1.2%) grew in April as all subsectors
were up. This was the fourth consecutive month of growth in the sector.
GDP is muddling along over the last 3 months with 0.1%, 0.1% and 0.0% MoM numbers. Next
month is looking better, however..
The USDCAD is backing off a bit from the swing area on the hourly chart between 1.3271 and
1.32853. The high prices 1.32729.
Source - https://www150.statcan.gc.ca/n1/daily-quotidien/230630/dq230630a-eng.htm or
GDP - https://www.marketpulse.com/fundamental/impressive-gdp-and-personal-consumption-drive-
fed-rate-hike-bets/emoya
Cobalt and Lithium - https://asia.nikkei.com/Business/Markets/Commodities/Chinese-EV-market-
slowdown-slashes-lithium-cobalt-prices