Canada in Technical Recession
Canada's economy has entered a technical recession after experiencing two consecutive quarters of annualized decline. The first quarter saw a slight contraction of 0.1 percent, following a revised decline of one percent in the previous quarter. Despite this, there are signs of recovery, with an estimated growth of 0.4 percent in April.
- ▪Canada's real GDP contracted by 0.1 percent on an annualized basis in the first quarter of 2026.
- ▪This marks the second consecutive quarter of decline, which is classified as a technical recession.
- ▪Household spending increased, contributing positively to the GDP, while business capital investment fell for the fifth consecutive quarter.
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BusinessCanada slipped into a technical recession on an annualized basis as economic growth stalled in 1st quarterCanada's economy contracted in the first quarter of the year on an annualized basis by a slim margin, Statistics Canada data showed on Friday, making it two consecutive quarters of annualized decline, which some would call a technical recession.Real GDP has declined for 2 consecutive quartersAbby Hughes · CBC News · Posted: May 29, 2026 8:49 AM EDT | Last Updated: 3 hours agoPlayListen to this articleEstimated 4 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur.
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