Statistics Canada has confirmed what many analysts had suspected that Canada suffered from recession in the first six months of 2015.
The decline in growth was widespread with manufacturing , business fixed capital investment and new housing construction as well as mineral exploration and the oil sands (down 5.7 %) all showing negative results.
As well as revealing a second consecutive quarter of negative growth Stats Canada revised downward the first quarter results to a larger decline of 0.8 %. The decline in the second quarter is minus 0.5 % This compares to a growth rate of 3.7% in the U.S. during the same period. The only bright spot in the data releases comes from the monthly GDP data which shows that after five straight months of negative growth in June the results were positive up o.5 % month over month. The data should add fuel to the election debate over economic policy. Mr.Harper will want to run on emerging from recession and the June results. But the other parties will focus on the recession we have suffered and ask legitimate questions about how it could have been avoided with better policy.