C.D. Howe Institute Says ‘Too Early’ to Declare Canada Is in Recession
The C.D. Howe Institute says it’s too soon to conclude that Canada has entered a recession, after the latest data from Statistics Canada showed the economy contracted for two consecutive quarters, meeting the common definition of a technical recession. The institute’s Business Cycle Council, widely seen as the authority on recessions in Canada, said on […]
TL;DR
- The C.D. Howe Institute states it is too soon to conclude Canada is in a recession.
- Statistics Canada data indicates the economy contracted for two consecutive quarters.
- The institute's Business Cycle Council, an authority on recessions, does not use the two-quarter GDP decline definition.
- Their definition of a recession is a 'pronounced, persistent and pervasive decline in real economic activity.'