Skip to main content

Featured

5 Things to Know Today: Canada Enters Recession, Oil Slips on Iran Ceasefire Talk

Saturday, May 30, 2026 — Your quick-hit Canadian financial briefing for the day. 1.Canada Officially Meets the Definition of a Technical Recession Statistics Canada confirmed Friday that real GDP contracted 0.1% on an annualized basis in Q1 2026 — following a revised 1.0% drop in Q4 2025 . That's two straight quarters of negative growth, which meets the technical definition of a recession. The miss was a big one: economists had forecast growth of 1.5% . The main culprits were a surge in imports (up 2.9%, largely gold), declining business capital investment (down 0.7% — its fifth consecutive quarterly drop ), and weakness in resource extraction and construction. On a per-capita basis, GDP actually edged up 0.2% as Canada's population shrank for the second quarter in a row. Not everyone is ready to call it a full recession: some economists note that three of the four weak months were isolated, and early April data points to a sharp 0.4% rebound . Still, the numbers ...
Post a Comment
Read more

article

Labels

Trump's Remarks Stir Political Debate in Canada


In a recent interview with Fox News, U.S. President Donald Trump made waves by stating that he would prefer dealing with a Liberal government in Canada over a Conservative one. Trump described Conservative leader Pierre Poilievre as "stupidly, no friend of mine," citing negative comments Poilievre has made about him. Trump added that he finds it "easier to deal with a Liberal" and expressed indifference about the outcome of Canada's upcoming federal election.

Poilievre responded to Trump's remarks during a press conference in Sudbury, Ontario, emphasizing his strong leadership and commitment to putting Canada first. He criticized the Liberals, led by Prime Minister Mark Carney, for policies he claims have weakened Canada and driven investment south of the border. Poilievre framed Trump's comments as an endorsement of Carney, suggesting that Trump prefers a weaker Canada under Liberal leadership.

The exchange has sparked significant political discourse, with both parties using Trump's comments to bolster their narratives ahead of the election. The Liberal Party has seen a rise in polls since Carney assumed leadership, while Poilievre continues to position himself as a tough negotiator capable of standing up to Trump.

The remarks highlight the complex dynamics of U.S.-Canada relations and their influence on Canadian politics.

Labels:

Comments

Post a Comment