Canada’s real gross domestic product unexpectedly contracted slightly in the first quarter of 2026, marking the second consecutive quarterly decline and meeting the technical definition of a recession.
The results came as a surprise: Preliminary estimates in April had suggested the economy grew to start the year, but data released Friday by Statistics Canada showed an increase in imports — up 2.9 per cent in the first quarter, mainly driven by gold imports — dragged real GDP growth into negative territory on an annualized basis.
12 Replies to “Gradually, The Unexpectedly”
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“Unexpectedly contracted”??!! Unexpected by who, exactly. Canada is in for a real economic ass kicking when the USMCA collapses and Canada is left out in the cold.
“Driven by gold imports”. Still don’t get that one.
Some real howlers in there
“came as a surprise”????
LOL
Not a surprise to anyone who was – even vaguely – sentient.
“raising spectre of recession”???
When I studied economics, a “recession” was defined as “two consecutive quarters of negative growth.” Maybe like the Biden administration, they are changing the definition
The Financial Post – who should know better (but who are dependent on government subvention for their continued existence) – should be publicly flogged for re-printing this LPC press release.
Perhaps Janet Yellen is working for Carney now.
“Canada’s real gross domestic product unexpectedly contracted slightly on an annualized basis in the first quarter of 2026, but economists stopped short of calling it a recession despite meeting the technical definition of two consecutive negative quarters.”
The “economists” in question aren’t identified as the lying propagandists that they are… much the same way that Carney claimed the IMF says that Canada will experience the second best growth in the G7, as if less than half the Growth is something to brag about.
Same as the ‘States, where every bit of unwelcome economic news when the liberal / Dem is in power is “unexpected.” Same damned playbook as the American Dems and the Dem-dominated press.
This is where I taunt them suggesting that if the “experts” found this to be “unexpected” so regularly then I have to wonder about whether they are “experts.”
If you Canadians really want to show the Americans that you’re not an American colony, might I kindly suggest 2 things:
1) Cut off donations from American donors to your political parties. Your liberal parties are kept alive by the same donors that keep the Yank DNC on its leftist suicide run.
2) Take back your railroad from American leftist environmentalists who always want to fight pipelines. Then you do the major east-west pipelines, and let the railroad figure out how to live w/o those zillions of cars full of crude.
Canada can’t and won’t. It’s become too rotten and corrupt.
Alberta can and will.
Doesn’t surprize me much. Canada is a poor place to invest when Trump is trying to build an economic wall between it and the US.
But should CUSMA remain essentially intact and Trump back off on tariffs in autos, steel, and aluminum — as might happen should the Republicans lose control of congress — then investor interest in Canada would revive.
Killer S
McStupid rides again, pols show the DimoKKKraps will NOT have that expected surge in reps.So mid terms will not happen as you retarded lefties hope!
Investor interest died when the Black-faced pedo and his band of retards were elected to run the economy into the ground.
Without government debt spending the place is a joke.
Government spending is a component of GDP. If you eliminated the deficit spending you would probably find that we have been in a ‘recession’ for most of the past ten years propped up only by the illusion of money movement. Remember, even fraud is a component of the GDP.