News24 | Canada enters surprise recession amid tariff uncertainty
Canada’s economy posted a surprise contraction in the first quarter versus the year before, making it two straight quarters of annualised decline - which some economists call a technical recession - as the country struggles with US tariff uncertainty.
Canada's economy experienced an unexpected downturn in the first quarter, marking the second consecutive period of annualized decline. This contraction has led some economists to declare a technical recession for the nation. The economic struggles are occurring amidst ongoing uncertainty surrounding tariffs imposed by the United States.
This development is significant as it indicates potential economic instability in Canada, which could impact trade relations and financial markets.
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