Canada’s Economy Is on Track to Enter a Technical Recession
- Data support argument that Bank of Canada is done hiking rates
- Business confidence is at recession levels: economist Antunes
The Canadian economy is on track to unexpectedly enter a technical recession, with a minor contraction estimated in the third quarter, reinforcing the case for an interest-rate pause.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
The Canadian economy appears to have entered a technical recession, with a minor contraction estimated in the third quarter, reinforcing the case for an end to interest-rate hikes.
Preliminary data suggest gross domestic product was unchanged in September, Statistics Canada reported Tuesday. The numbers point to a decline in output of 0.1% annualized for the third quarter, following a 0.2% contraction from April to June.