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.