Canada’s economy shrank in the fourth quarter of 2023 by 0.2%. That’s the second quarter of shrinkage in a row. In the third quarter, it fell 0.3%.
Technically that means Canada is in recession, since the definition of a recession is two consecutive quarters of Gross Domestic Product shrinkage. Yet no one in the government or over at the toady Bank of Canada will use the “R” word.
