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Canada: Technically In Recession

ByThe National Bank of Canada
Published 09/08/2015, 12:46 PM
Updated 05/14/2017, 06:45 AM
  • The U.S. economy created 173,000 jobs in August, falling short of the 217,000 new jobs expected by the market. The number of full-time jobs in the U.S. now stands at over 122 million, an all-time high.
  • On Tuesday, the release of the GDP figures for June confirmed the fears of many observers: that the Canadian economy fell into recession in the first half of the year. Even though GDP grew 0.5% in June, this was not enough to prevent a technical recession.
  • The Canadian August employment figures released on Friday were eagerly anticipated, since many observers were waiting to see some indication of the health of the Canadian economy since the beginning of the third quarter of 2015. Once again, the figures were slightly better than expected, with the economy generating close to 54,400 new full-time jobs.

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