Canada – In recession as economic growth shrank for a second quarter in a row

Canada’s economy contracted by an annualized 0.5 percent in the second quarter, according to Statistics Canada data on Tuesday, indicating a recession in the first half of the year.

The second-quarter downturn was less than the 1.0 percent decline forecast by economists, and followed a more deeply revised contraction of 0.8 percent in the first quarter.

Canada’s economy, dragged down by the oil price slump, grew by a higher-than-expected 0.5 percent in June.

Chosen excerpts by Job Market Monitor. Read the whole story at Canada hit by recession as economic growth shrank in second quarter | Business | Reuters

Gross domestic product and final domestic demand

Source: StatCan:  Gross domestic product and final domestic demand