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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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Canada Withdraws Peacekeepers from UN Mission in Congo


In a significant move, Canada has decided to withdraw its peacekeepers from the United Nations mission in the Democratic Republic of Congo (DRC). This decision comes amidst escalating violence and instability in the region, which has seen a resurgence of conflict involving various armed groups, including the M23 rebels.

The UN mission, known as MONUSCO, has been operating in the DRC for several years, aiming to stabilize the region and protect civilians. However, the situation has deteriorated rapidly, with thousands of people displaced and numerous casualties reported. The Canadian government cited the increasing danger to its personnel and the lack of progress in achieving peace as key reasons for the withdrawal.

This move has raised concerns about the future of the UN mission and the stability of the region. The withdrawal of Canadian peacekeepers, who have been a crucial part of the mission, may impact the overall effectiveness of MONUSCO. The international community is now closely watching the developments in the DRC, hoping for a resolution to the ongoing conflict.


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