Morning Update: Canada’s per capita output drops 7% below trend, new Statscan report says

Good morning,Canada’s economic output on a per capita basis has dropped to 7 per cent below its long-term trend, according to a report published yesterday by Statistics Canada.To return to trend over the next decade, real GDP per capita would need to grow at an average annual rate of 1.7 per cent, but the authors of the report write that “per capita growth of this magnitude is ambitious and a marked departure from recent trends.”