Energy sector slump pushes Canada into recession

No surprise for most Canadians as Statistics Canada confirmed on Tuesday the country is in a technical recession: after two quarters of negative GDP growth, the Canadian economy is stalled. In the second quarter, real gross domestic product (GDP) declined by 0.1% following a 0.2% decrease in the first quarter. The energy sector continues to

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Looking for a silver lining

Last week, Statistics Canada released November’s GDP numbers for Canada indicating the Canadian economy had contracted by 0.2 per cent. This further confirms the grim news related to the drop in oil prices. Weak demand and low commodity prices are responsible for the continuing decline in growth in the energy, mining and manufacturing sectors. With

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