In first remarks after Canada enters ‘technical recession,’ Carney acknowledges ‘weakness’ in economy
Mark Carney said weaker data will continue as Ottawa’s economic overhaul takes hold, while citing higher business investment and income growth.
- Prime Minister Mark Carney said on Tuesday economic data will show "weakness" as the government's plan for transformation is "settling in," acknowledging that immigration cuts and reduced federal spending contribute to current volatility.
- Statistics Canada reported last week the economy shrank at an annualized rate of 0.1% in the first quarter, following a 1% contraction in the fourth quarter, confirming the "technical recession" label.
- Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in recession, while many economists argue the slump lacks depth or breadth to justify the label, citing employment and consumption data.
- Conservative Leader Pierre Poilievre called for an emergency debate, accusing the government of overseeing the only recession in the Group of Seven; President Donald Trump labeled Canada the "51st State" on social media.
- Analysts warn it is difficult to find a sector propelling growth in 2026 and 2027; while Carney cited positive signs in business investment and household income, non-U.S. exports fail to offset U.S. declines.
42 Articles
42 Articles
Carney Says Reduced Immigration, Lower Government Spending Causing Economic ‘Weakness’
Prime Minister Mark Carney has responded to the news that the Canadian economy entered a technical recession by saying lower population growth and reduced government spending have contributed to “weakness” in the economy. Statistics Canada reported on May 29 that Canada’s economy showed no growth in the first quarter of 2026 after negative growth in the last quarter of 2025. The country’s GDP declined for two consecutive quarters on an annualize…
Medicine Hat News
Carney says economic plan 'settling in' after Canada's economy shrinks
OTTAWA — Prime Minister Mark Carney says the government’s plan to build up the economy is “settling in” as work continues on getting major projects built and expanding non-U.S. trade relationships. In his first public comments on the state of the economy since Statistics Canada reported two consecutive quarters of economic decline last week, Carney The post Carney says economic plan ‘settling in’ after Canada’s economy shrinks appeared first on …
The Prime Minister spoke for the first time after Statistics Canada referred to a "technical recession."
Carney Says Data Will Be 'Uneven' as Canada Dips Into Technical Recession
(Bloomberg) — Canadian economic data will be volatile as the government works on a broader transformation of the economy, Prime Minister Mark Carney said in response to last week’s gross domestic product report that showed the country tipped into a technical recession.
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