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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 ...
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These pecan pie bars, with their buttery shortbread crust and rich caramel-pecan topping, are everything you love about pecan pie—only easier to make and perfect for sharing!

INGREDIENTS

For the Crust

  • ¾ cup all-purpose flour, spooned into measuring cup and leveled-off
  • ¼ cup cornstarch
  • ½ cup Confectioners' sugar
  • ½ teaspoon salt
  • ½ cup (1 stick) cold unsalted butter, cut into 1-inch pieces

For the Filling

  • 12 tablespoons (1½ sticks) unsalted butter
  • ¾ cup packed light brown sugar
  • 3 tablespoons honey
  • ½ teaspoon vanilla extract
  • Generous pinch salt
  • 2 tablespoons heavy whipping cream
  • 3 cups coarsely chopped pecans

INSTRUCTIONS

For the Crust

  • Cover a 9-inch square baking pan with heavy duty aluminum foil. Push foil neatly into corners and up sides of the pan, using two pieces if necessary to ensure it overlaps all edges (the overhang will help removal from pan).Spray foiled pan with nonstick cooking spray.
  • Place the flour, cornstarch, confectioners sugar and salt in a bowl of a food processor fitted with the blade attachment. Pulse a few times to mix. Add the butter and pulse until the mixture resembles coarse meal with pea-size clumps of butter within. It will seem dry; that's okay. Transfer mixture to the prepared pan and press firmly with your fingers into an even layer over the bottom. Refrigerate for 15 minutes. While the crust is in the refrigerator, adjust an oven rack to the middle position and preheat the oven to 350° F. Bake the crust until crust is set but not browned, about 17 minutes. Set on rack to cool. Leave oven on.

For the FILLING

  • In a heavy medium saucepan over medium-low heat, combine butter, brown sugar, honey, vanilla and salt. Stir with a wooden spoon until sugar dissolves. Turn up the heat and boil gently for 3 minutes. Stir in heavy cream and chopped pecans.     

TO ASSEMBLE AND BAKE

  • Pour pecan mixture over crust (it's fine if the crust is still warm). Bake until filling is bubbling and caramel in color, about 20 minutes. Cool completely on rack. To cut, use the foil overhang to lift baked square out of pan and onto cutting board. Loosen the foil from the edges, then cut with a sharp knife into 2-inch squares. Store finished pecan squares in air-tight container and serve at room temperature.

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