Tax & Spend
Canada’s Election Winner Faces Economy That’s Near Recession
Mark Carney, Pierre Poilievre, Yves-Francois Blanchet and Jagmeet Singh participate in an election debate.
Photographer: Christopher Katsarov/Canadian Press/BloombergTakeaways NEW
Canada’s next prime minister is set to inherit a half-year of flat economic growth, economists predict, an immediate test of their governance as President Donald Trump’s trade war grinds business investment and exports lower.
Economists surveyed by Bloomberg see the economy contracting 0.2% in the second quarter and no growth in the third quarter. That would put it on the cusp of a technical recession — commonly defined as two consecutive quarters of negative gross domestic product growth.