Economic data released Tuesday is providing long-awaited confirmation of whether Canada was mired in recession for the first half of 2015.
StatsCan says the economy contracted at an annual pace of 0.5% in the second quarter of the year which is slightly less than analyst estimates and also lower than the 0.8% decline in Q1.
June ended the GDP's five-month losing strak with a 0.5% gain. Most notable was a 3.1% increase in natural resources extraction suggesting oil prices could be near a bottom.
While this contraction over the first half of the year isn't anywhere near the contraction during the Great Recession of 2009 -- an 8.7% decline in first quarter and 3.6% decline in second -- it does provide interesting conversation for leaders of the three major political parties on the road to the October 19 election.
The recession conversation continues.
Files by CP