Canada’s economy has stalled. According to Statistics Canada, Canada’s real GDP contracted 0.1 per cent on an annualized basis in the first quarter of 2026. In the previous quarter, there was a 1-per-cent annualized decline. Two consecutive quarters of decline has sparked debate in Ottawa and on Bay Street about whether the country is in a recession.

Mark Rendell is The Globe’s economics reporter. He’s on the show to put these numbers in context, unpack the debate around what defines a recession, and what this says about Canada’s economic landscape. 

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