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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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Acadie NouvelleReposted by 
lechodelarivenord.ca
lechodelarivenord.caThe 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.
Canada in a recession? What know after week economic data1
Ottawa — A single word dominated economic discussions across Canada this past week: recession. Following the release of new economic data from Statistics Canada, economists, politicians, business leaders and commentators have been debating whether Canada’s economy has officially entered a recession. While some point to two consecutive quarters of declining annualized gross domestic product (GDP) as evidence of an economic ... Read More The post …
Coverage Details
Total News Sources40
Leaning Left26Leaning Right2Center8Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
C 22%
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