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

Canada’s Inflation Rate Rises to 2% in October

 

In October 2024, Canada’s inflation rate increased to 2%, up from 1.6% in September, according to Statistics Canada. This rise marks a significant shift, driven by various economic factors.

The Consumer Price Index (CPI) showed that while gasoline prices fell by 4% year-over-year, this decline was less pronounced than in previous months. Excluding gasoline, the all-items CPI rose by 2.2%, consistent with the growth rates observed in August and September.

Shelter costs continued to rise, albeit at a slower pace, with a 4.8% increase compared to the previous year. Food prices also saw a faster increase, with a 2.7% rise in October compared to 2.4% in September.

This uptick in inflation reflects ongoing adjustments in the economy, influenced by fluctuating energy prices and persistent supply chain challenges. As Canada navigates these economic shifts, the impact on consumers and businesses will be closely monitored.


Labels:

Comments

Post a Comment