Anemic growth and false Conservative swagger

From the other side of the planet, Canada’s Economist-in-Chief Stephen Harper today lamented over the economic sluggishness of our neighbours to the South.

He stated the United States is “likely to continue to be a slow growing economy.”

If the Prime Minister thinks the American economy is doing so badly, what must he think about the latest forecasts for Canada?

The International Monetary Fund (IMF) issued an update today to their World Economic Outlook Report – and Canada’s GDP growth is slowing. In fact, Canada’s 2012 GDP growth is actually smaller compared to the U.S.

The IMF is also anticipating that Canada’s sluggish growth will continue to fall behind the US and many other countries through 2012 and into the future (see chart below).

Instead of lecturing the U.S. and bragging that everything is rosy back home, the Prime Minister should start listening to Canadians still struggling from the recession and come forward with a real plan for jobs and growth.

2012 GDP growth projections

1. Australia 3.305%
2. Norway 3.064%
3. Israel 2.946%
4. Iceland 2.855%
5. Korea 2.688%
6. Slovak Republic 2.64%
7. Estonia 2.449%
8. New Zealand 2.228%
9. Japan 2.224%
10. United States 2.17%
11. Singapore 2.078%
12. Canada 1.936%

2013 GDP growth projections

1. Taiwan 3.865%
2. Korea 3.625%
3. Estonia 3.524%
4. Hong Kong 3.475%
5. Israel 3.207%
6. New Zealand 3.068%
7. Australia 2.999%
8. Singapore 2.902%
9. Slovak Republic 2.8%
10. Iceland 2.583%
11. Norway 2.35%
12. Sweden 2.218%
13. United States 2.116%
14. Malta 2.049%
15. Canada 1.968%