Staff
Canada isn’t in a recession, says the C.D. Howe Institute’s Business Cycle Council.
It says the “data did not provide evidence that Canada had entered an economic downturn.”
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The council reviewed recent data for output as measured by GDP, for employment, and measures of sectoral activity.
It noted weak GDP data in the first four months of 2015, primarily associated with low oil prices and falling investment in the energy and some other resource sectors.
However, it also noted resilience in labour markets, as reflected by employment data at the national level.
The council defines a recession as a pronounced, pervasive and persistent decline in aggregate economic activity.
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