RBC: Canada in Early-Stage Recovery, GDP Contractions Not a Recession

RBC economist Claire Fan stated that recent contractions in Canadian GDP should not be interpreted as a recession signal. She highlighted that sharp swings in population growth are distorting traditional GDP metrics, making the current data misleading.

The C.D. Howe Institute's Business Cycle Council shares this view, according to Fan. The analysis points to an early-stage recovery rather than a downturn, as underlying economic indicators remain resilient despite headline figures.