Canada GDP contracts for second quarter, Anas Alhajji notes

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30.05.2026

Canada GDP contracts for second quarter, Anas Alhajji notes — Canada in technical recession as GDP falls

Anas Alhajji, managing partner, energy economist, market analyst at Energy Outlook Advisors LLC, reports that Canada has entered a technical recession, citing data showing GDP contracted 0.1% on an annualized basis in the first quarter. This follows a 1% contraction in the fourth quarter, with GDP flat on a quarterly basis, according to Statistics Canada.

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Alhajji has previously tracked disruptions in energy markets, including a surge when Brent crude rose close to $98 following drone attacks in Kuwait. He has also reported on U.S. crude oil inventories dropping by 7.9 million barrels. These updates come amid ongoing monitoring of macroeconomic shifts in North America.

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