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Glen McGregor: Bank of Canada governor views economy as weak but not in recession

Glen McGregor: Bank of Canada governor views economy as weak but not in recession
Canada economy weak but not recession

Glen McGregor reports that Bank of Canada Governor Tiff Macklem described Canada's economy as weak but clarified that it is not in recession. Macklem stated, 'Recession is not the word I would use.'

The governor's remarks suggest a cautious view of current economic conditions but stopped short of labeling the situation a recession.

McGregor previously reported that Canada entered recession after a mild first-quarter contraction. In contrast, Mexico avoided recession despite a larger decline during the same period. McGregor has also estimated that $65,000 would be required to establish an inquiry effort.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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