Though Canada’s economy is not technically in a recession, economists say it “feels like one,” given the current economic circumstances, as high population growth prevented an economic contraction.
It’s recession-like in the sense the GDP per capita is going down which means everyone is getting poorer… however the definition of a recession only considers GDP as a whole so technically the country is growing despite everyone getting poorer.
It’s recession-like in the sense the GDP per capita is going down which means everyone is getting poorer… however the definition of a recession only considers GDP as a whole so technically the country is growing despite everyone getting poorer.