Is Bill Morneau whistling in the dark with his assertion that Canada is not in recession, nor is it heading into one? Minister of Finance Bill Morneau says the country is not in a recession, nor is it headed that way. Asked after delivering his budget last week about those who fear a recession, Morneau said: “They would be incorrect. That would be technically wrong and certainly not in line with our expectations.” What Morneau didn’t allow is that negative GDP growth is a distinct possibility in the second quarter. GDP growth in recent months, dating from late last year, has been miserably low, dipping at times to 0.1 per cent.

Source: thestar March 24, 2019 22:52 UTC