It seems like it was just a few years ago we had a recession, could it really be time for another already?
The Canadian economy has now contracted four months in a row and if that trend continues will Poloz have to cut rates again?
Economists have already written off the first half the year, but something better was still expected for April.
This also brings into question the outlook that had been painted by Bank of Canada Governor Stephen Poloz.
A recession is typically defined as two consecutive quarters of contraction, meaning May and June will have to be stronger to avert that in Canada.
Even if the May showing is flat, said Andrew Grantham of CIBC World Markets, there could still be a “modest negative” for the second quarter.
“It probably already feels like a recession for people in Alberta and Saskatchewan,” he said.
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