Canada's economy contracted in the first quarter of the year on an annualized basis by a slim margin, Statistics Canada data showed on Friday, making it two consecutive quarters of annualized decline, which some would call a technical recession.

Canada's GDP unexpectedly contracted in the first quarter of 2026, meeting the technical definition of a recession. Read more

Canada's economy contracted 0.6% annualized in Q4 2025, making it the only G7 nation to shrink. Early 2026 data hints at a narrow recovery.