Canada hit by recession as economic growth shrank in Q2
reuters.com, Allison Martell & Solarina Ho, ed. Jeffrey Hodgson – 01/09/15
Canada’s economy contracted by an annualized 0.5 percent in the second quarter, according to Statistics Canada data on Tuesday, indicating a recession in the first half of the year. “We’re seeing continued declines, though fairly marginal weakness in the quarter, but clearly cutbacks in investment in energy continued to weigh on the growth numbers.” “The monthly data showed a sharp bounce bank in June, consistent with indications that exports rebounded in the month, which points to a likely return to positive growth in the third quarter. The numbers suggest maybe growth around 2 pct in the third quarter.”
