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Is Canada in a recession? What to know after a volatile week of economic data
A 88,000-job gain and a rebound expected in April have led economists to question whether the downturn meets recession criteria.
- Canada's first-quarter GDP remained flat, though a surprise gain of 88,000 jobs in May has fueled intense national debate over whether the country is currently in a recession.
- Federal Conservatives have seized on the latest results, blaming Prime Minister Mark Carney and the Liberals for a "full-blown recession," while the government has largely avoided using the term.
- The C.D. Howe Institute's Business Cycle Council argued Friday it is too soon to label the current downturn a recession, noting that declines must be "pronounced, pervasive and persistent."
- Desjardins deputy chief economist Randall Bartlett warned that two consecutive quarters of negative growth are "necessary but not sufficient" to declare a recession, urging caution until revisions arrive.
- Concordia University economics professor Moshe Lander argues GDP remains worth tracking because it is "highly correlated" with outcomes that matter, despite the measure being constantly revised and riddled with flaws.
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36 Articles
36 Articles
The word "recession" is on all lips this week. Recent economic data paint a mixed picture of the Canadian economy, and some interpretations suggest a recession.
Coverage Details
Total News Sources36
Leaning Left26Leaning Right0Center5Last UpdatedBias Distribution84% Left
Bias Distribution
- 84% of the sources lean Left
84% Left
L 84%
C 16%
Factuality
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