Mark Carney also refrained from using the word while discussing Canada\u2019s economic situation<\/a> with reporters in Ottawa on Tuesday. <\/p>\n\u201cThis government\u2019s been in the process of laying the foundations for a stronger, more resilient, more independent Canadian economy,\u201d he said.<\/p>\n
\u201cThat process is settling in during that time as we make major investments, major changes to how the government operates, how we do major projects, how we have new trade agreements with other countries.\u201d<\/p>\n
\u2018Not good news\u2019 <\/p>\n
Whether Canada is or isn\u2019t in a technical recession may be besides the point, argued Macdonald, who said no matter how you look at StatCan\u2019s latest economic data, it points to weakness. <\/p>\n
\u201cThree of the four last quarters have been negative. This is not good news; the fact that real GDP is slightly lower today than it was a year ago in (the first quarter) of 2025 says that this past year has been a pretty miserable year for economic growth in Canada,\u201d he said. <\/p>\n
\u201cWhether we\u2019re a dollar below or a dollar above that key zero-growth mark is neither here nor there.\u201d<\/p>\n
However, Mang argued that the technical recession Canada finds itself in for the time being is \u201cnot anything like\u201d the 2008 financial crisis or the recession in 2020 at the outset of the COVID-19 pandemic. <\/p>\n
\u201cThis is much more like that very, very short recession we had in 2015, which last for only two quarters; most people didn\u2019t even notice it,\u201d he said. <\/p>\n
\u201cSo, technically it is a recession but it is about the shallowest possible recession we could have.\u201d<\/p>\n
With files from CTV News\u2019 Stephanie Ha and The Canadian Press <\/p>\n","protected":false},"excerpt":{"rendered":"Canada\u2019s economy shrank in the last two quarters, which many say meets the definition of a technical recession.…\n","protected":false},"author":2,"featured_media":713082,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[712,45,49,48,46],"class_list":["post-713182","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-apple-news","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/713182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=713182"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/713182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/713082"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=713182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=713182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=713182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}