The Horror

GDP figures from StatsCan show ‘technical recession’

Canada posted its sixth consecutive month of negative GDP growth in June, meeting the technical definition of a recession in the first half of 2015.

The country’s GDP declined by an annualized rate of 0.5 per cent in the April-June period, after falling by 0.8 per cent in the quarter from January-March, meaning Canada’s GDP has been in decline for two straight quarters.

The commonly-held definition of recession defines it as two consecutive quarters of negative GDP growth. However, that definition is not set in stone.

  • Alex

    I wonder what the numbers for “Canada” would look like with the dead weight of Ontario removed from them: Wynne’s terrible handling of the economy there is hurting the entire country, not just Ontario.

    • True.

    • David Murrell

      I beg to differ with you on this. CBC News and the Globe and Mail have not once criticized Wynne’s handling of the Ontario economy. Therefore Wynne is doing a good job with the provincial economy (sarc).

  • David Murrell

    Yes but a reporter on CBC News this morning said that any definition of a “recesion” spells bad news for the Harper campaign. So since CBC News says this is bad for Harper, it must be bad for Harper.

  • El Martyachi

    … wonder how fast and high the rebound would be if the petrol-oligarchy lowered pump prices 20%?

  • mauser 98

    Duffy channel feeding frenzy

  • Clausewitz

    The first thing Harper should have done was to purge the Bureaucracy.

  • Minicapt

    They’re measuring the economy in 0.1% increments? It would be better to just state the economy is flat/no growth. But then the Dipper-Grit media couldn’t celebrate a deep,deep recession.