Canada's economy is more 'fragile' than the U.S.: Rosenberg
BNN Bloomberg
A prominent economist says the Canadian economy is weaker than many people realize, especially compared to the U.S. economy, which continues to benefit from fiscal stimulus.
David Rosenberg, founder and president of Rosenberg Research, told BNN Bloomberg that the Canadian economy is more “fragile” than the U.S. economy, adding that population growth has worked to make Canada’s economy appear to be performing better than it really is.
“You can mask an erosion in the economy through unprecedented immigration and population growth. But (regarding) real per capita income and output, the Canadian economy on that basis already is in a recession,” Rosenberg said.
The main difference between the two countries’ economies, according to Rosenberg, is that the U.S. is benefiting from “monumental fiscal stimulus” stemming from the Chips Act, which was introduced in 2022 to enhance semiconductor manufacturing, research and development.
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