The Current

GDP reveals recession as party leaders jockey to capitalize

According to new GDP numbers, Canada is officially in a recession. Today, we're asking how this update on our economy is likely to shake up the election campaign and how these new numbers will impact Canadians.
Statscan numbers reveal Canada is in a recession. Recessions are traditionally defined as two consecutive quarters of negative Gross Domestic Product growth. (Joe Raedle/Getty Images)

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Looks like Canada is in a recession

As of tomorrow we'll be one month into the 2015 federal election campaign. From the moment it was first called, there's been a critical question dogging economists and candidates alike. 

Is Canada in a recession, or not?

Turns out... we are. New GDP numbers just released from Statistics Canada confirm that Canada has experienced two consevutive quarters of economic decline... meeting the definition of a recession. 

So what do these new numbers tell us about the economic health of the country?

Craig Wright is the chief economist with the Royal Bank of Canada and he was in Toronto.

The fact that our economy is officially in a recession is certain to alter this election campaign... and alter all three parties messages to you. To help us unpack what today's numbers could mean come voting day, we were joined by someone who's watching it all closely.

Heather Scoffield is the Ottawa Bureau Chief for The Canadian Press and she was in our Ottawa studio. 

This segment was produced by The Current's Idella Sturino, Josh Bloch and Nicole Abi-Najem. 

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