Thank you very much.
Once again, thank you, Governor Macklem, for coming here. I think it's a credit to you and to your institution that you're as present as you are.
My questions will start with GDP and GDP per capita.
To my mind, it's almost getting to the point of a myth of a soft landing. Although our GDP as a whole, as an aggregate, doesn't look terrible, our GDP per capita does. In Q3 of 2022, it was -1%. In Q4 of 2022, it was -3.3%. In Q1 of 2023, it was -0.6%, while in Q2 of 2023.... While our GDP as an aggregate has shown modest growth, our GDP per capita—which I believe is a better, more accurate measure of how Canadians are actually dealing with the economy—is showing that we are in a very difficult time. To quote the leader of the NDP, it's bad; it's very bad.
What are your comments on that statement? Do you agree?