Can Canada avoid a deepening recession?
6/4/202630 min
Canada has entered a “technical recession,” leading to fingerpointing in the House of Commons and Donald Trump renewing his calls to make Canada the 51st state.
Many economists are disputing that this is a recession at all. But whatever you call it, the economy is weak right now. It was weak before the trade war and it’s been made weaker by the tariffs, the threats and the uncertainty.
So how deep is this ditch that we are in, and how can we get out?
Frances Donald, Senior Vice President & Chief Economist at RBC, joins us.
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David Ridgen0:30
[upbeat music] This is a CBC podcast.
Peter Armstrong· Host0:34
[upbeat music] Hi, I'm Peter Armstrong, filling in for Jamie Poisson.
Pierre Poilievre· Soundbite0:39
Mark Carney is now the only leader in the G7 to have plunged his economy into recession.
Peter Armstrong· Host0:54
That's Conservative leader Pierre Poilievre reacting to the news that Canada is, technically at least, in a recession after two quarters of economic decline. Donald Trump has also seized on the news, renewing his call for Canada to become the 51st state. But a lot of economists dispute that this is a recession at all. KPMG's chief economist wrote in a briefing note, "Is Canada in a recession? Probably not, but whatever you wanna call it, it's not good." But look, the economy is weak right now. It was weak before the trade war. It's been made weaker by the tariffs, the threats, and the uncertainty. Most