Canada in recession after Q2 contraction

By Euronews

Published on 01/09/2015 - 17:41

Canada went into recession in the first half of 2015, and figures indicate Prime Minister Stephen Harper’s prediction the second half would be better

Canada went into recession in the first half of 2015, and figures indicate Prime Minister Stephen Harper’s prediction the second half would be better may be off-target. This was based on several favourable forecasts.

But Canada is being hit by lower mineral and energy prices, with the Conservative government facing its worst numbers since the 2008 financial crisis. In total in Q1 and Q2 the economy contacted by 1.3%.