Economists explode on Twitter over Canada’s “atrocious” new numbers
Statistics Canada data released Friday show our economy is far more "atrocious" than expected -- and the reaction from financial experts on Twitter was explosive.
It looks like Peter MacKay may have jumped ship just in time. Statistics Canada data released Friday show our economy is far more “atrocious” than expected — and the reaction from financial experts on Twitter was explosive.
Canadians are no strangers to hearing the Conservative government tell economic fairy tales, but the report offered a truly grim reality.
You don’t have to take our word for it. Here’s how economic experts — from economists to business reporters — reacted to the news:
#Canada‘s Q1 real GDP growth is ‘atrocious’ compared to expectations http://t.co/3vjsYr4dRF #TDEconomics #cdnecon $MACRO
— TD Economics (@TD_Economics) May 29, 2015
Govt spending cuts (govt current spending fell 0.2% in 1Q) now adding to the macro malaise. #Austerity is a self-inflicted, needless injury
— Jim Stanford (@JimboStanford) May 29, 2015
It was the deepest Canada’s real GDP plunged into negative territory since Q2 of 2009 — when it fell by 3.6 per cent. #cdnecon
— Andy Blatchford (@AndyBlatchford) May 29, 2015
Wowee wow wow, those GDP numbers are *brutal*. We’re halfway to a recession!
— Mike Moffatt (@MikePMoffatt) May 29, 2015
Biggest drop in biz investment since ’09; exports decline for second quarter; inventories higher. Looks pretty “atrocious” from here. $CAD
— Kevin Carmichael (@CarmichaelKevin) May 29, 2015
Canada 1Q GDP declined 0.6% annualized, worst performance since financial crisis. Steep decline in business investment. Incomes fell
— Paul Vieira (@paulvieira) May 29, 2015
People, I’d suggest going back to the thesaurus for some synonyms for “#atrocious” just so they’re ready to hand if we need them for Q2.
— Don Curren (@dbcurren) May 29, 2015
With economic news like this, the Conservatives may want to re-think slogans like “We’re better off with Harper.”
Photo: Flickr. Used under a Creative Commons licence.
