Poilievre Demands Emergency Debate After Canada Posts 2 Straight GDP Declines

6 articles · Updated · Global News · May 31

Pierre Poilievre urged Prime Minister Mark Carney to convene an emergency economic debate after Statistics Canada reported a 0.1% annualized GDP drop in Q1, following a revised 1.0% decline in Q4.
Those back-to-back contractions meet a common definition of technical recession, though economists disputed whether the near-flat first-quarter result amounts to a true recession.
TD's Marc Ercolao said unexpected weakness in government spending dragged on Q1, while BMO's Doug Porter said the economy has made little headway over the past year even if he would not call it a recession.
Poilievre tied the GDP data to broader strain, citing insolvencies up nearly 19% year over year, thousands of job losses in early 2026 and food-bank use by one-tenth of Greater Toronto Area residents.
Friday's weak GDP report also reinforced expectations that the Bank of Canada will keep rates on hold, with Porter saying the economy is in no condition to absorb higher borrowing costs.

Canada is now the G7's only economy in recession. Can the government's new spending plan reverse the decline?

If the average Canadian is technically getting richer, is the country truly in a recession?