In first remarks after Canada enters ‘technical recession,’ Carney acknowledges ‘weakness’ in economy
Mark Carney said weaker data will continue as Ottawa’s economic overhaul takes hold, while citing higher business investment and income growth.
- Prime Minister Mark Carney said on Tuesday economic data will show "weakness" as the government's plan for transformation is "settling in," acknowledging that immigration cuts and reduced federal spending contribute to current volatility.
- Statistics Canada reported last week the economy shrank at an annualized rate of 0.1% in the first quarter, following a 1% contraction in the fourth quarter, confirming the "technical recession" label.
- Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in recession, while many economists argue the slump lacks depth or breadth to justify the label, citing employment and consumption data.
- Conservative Leader Pierre Poilievre called for an emergency debate, accusing the government of overseeing the only recession in the Group of Seven; President Donald Trump labeled Canada the "51st State" on social media.
- Analysts warn it is difficult to find a sector propelling growth in 2026 and 2027; while Carney cited positive signs in business investment and household income, non-U.S. exports fail to offset U.S. declines.
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19 Articles
Medicine Hat News
Carney says economic plan 'settling in' after Canada's economy shrinks
OTTAWA — Prime Minister Mark Carney says the government’s plan to build up the economy is “settling in” as work continues on getting major projects built and expanding non-U.S. trade relationships. In his first public comments on the state of the economy since Statistics Canada reported two consecutive quarters of economic decline last week, Carney The post Carney says economic plan ‘settling in’ after Canada’s economy shrinks appeared first on …
Carney Says Data Will Be 'Uneven' as Canada Dips Into Technical Recession
(Bloomberg) — Canadian economic data will be volatile as the government works on a broader transformation of the economy, Prime Minister Mark Carney said in response to last week’s gross domestic product report that showed the country tipped into a technical recession.
Canada PM Carney Says GDP Weakness Reflects Policy Shifts to Rebuild Economy
By Paul Vieira OTTAWA--There are signs of economic weakness in Canada, Prime Minister Mark Carney said, adding that this reflects policy decisions made since he came to power that have been aimed... -June 02, 2026 at 10:32 am EDT MarketScreener
In first remarks after Canada enters ‘technical recession,’ Carney acknowledges ‘weakness’ in economy
While Prime Minister Mark Carney acknowledged weaknesses in the Canadian economy, he also defended the federal government’s economic agenda on Tuesday and did not use the word “recession.”
Carney says foundations for a stronger economy are 'settling in' amid technical recession
While Canada's economy has contracted for two straight quarters, slipping into a technical recession, Prime Minister Mark Carney said 'the data's going to be uneven' as he makes changes to government operations, major projects and new trade agreements. 'We see some weakness, in part because of clear decisions by the government,' he said.
Carney says economic plan ‘settling in’ after Canada enters recession territory
OTTAWA - Prime Minister Mark Carney says the government's plan to build up the economy is "settling in" as work continues on getting major projects built and expanding non-U.S. trade relationships.
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