Canada’s economy contracted in the first quarter on an annualized basis by a slim margin, marking the second consecutive quarter of such decline — which some would call a technical recession.
Statistics Canada said real gross domestic product fell 0.1 per cent on an annualized basis in the first three months of this year. That comes after a downwardly revised contraction of one per cent in the fourth quarter of 2025.
Two consecutive quarters of contraction in economic growth is termed a technical recession.
