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Record Population Growth Continues In Third Quarter

CANADA DATA
  • "Canada's population was estimated at 40,528,396 on October 1, 2023, an increase of 430,635 people (+1.1%) from July 1. This was the highest population growth rate in any quarter since the second quarter of 1957 (+1.2%)" Statistics Canada says Tuesday.
  • "Canada's total population growth for the first nine months of 2023 (+1,030,378 people) had already exceeded the total growth for any other full-year period since Confederation in 1867, including 2022, when there was a record growth."
  • "In the third quarter of 2023, the vast majority (96.0%) of the population growth was due to international migration."
  • Bank of Canada has focused more on the implications of population gains for inflation, saying that while new workers boost the economy's potential output there are some signs of short term pressures on housing costs.
  • Government recently moved to scale back some short-term student visas amid political pressure over housing costs while saying it's committed to more immigration overall.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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