Statistics Canada and Canada Economy

recession: But that slight monthly uptick wasn't enough to offset the contraction in the previous two months, which means for the second quarter as a whole, the economy shrank, according to CBC. Recession Knowing if we're in one matters: Don Pittis Alberta has lost 35,000 oilpatch jobs, petroleum producers say How a recession would shake up the election campaign The economy also shrank in the first quarter, which means Canada economy has met the bare minimum required before a recession is declared — two consecutive quarters of decline. The economy expanded by 0.5 per cent in June, Statistics Canada said. On an annualized basis, the economy shrank by 0.5 per cent in the April-to-June period, after contracting at an 0.8-per-cent annual pace in the first three months of 2015. The 'R' word Statistics Canada gross domestic product figures released today show the economy expanded in June, but declined by 0.1 per cent for the second quarter, meeting the bar of what is considered a recession. For comparison purposes, the U.S. economy expanded by 3.7 per cent during the same period, the data agency noted. (news.financializer.com). As reported in the news.