Canada entered into what many experts would call a technical recession after it reported two consecutive quarters of contraction in economic growth. 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.
The last time Canada was in a technical recession was during the start of the pandemic in 2020. Before that, it was during the oil shock at the beginning of 2015.
Opposition leader Pierre Poilievre slammed Prime Minister Mark Carney and said he is the only leader in the G7 who led his country into a recession. All other G7 countries face the same tariff and problems but none has slipped into a recession.
"Excuses, speeches, buzzwords, and signing ceremonies do not grow the economy," he said.
"Mark Carney is the ONLY leader in the G7 to lead his economy into a RECESSION. All other G7 countries face the same tariff and global problems, yet none are in a recession...
Canada is the only G7 country in recession because of Carney Liberals hiking industrial carbon taxes, kept anti-development laws, and doubling Trudeau’s deficit," Poilievre added.
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