Published On: Tue, Sep 1st, 2015

Canada officially enters recession

canada

The Canadian economy slipped into recession in the first half of 2015, adding to fears about the health of the global economyReeling from low oil prices, Canada fell into a recession in the first half of the year, government data confirmed Tuesday, putting Conservative Prime Minister Stephen Harper on the defensive in the run-up to October elections. According to Statistics Canada, the economy contracted 0.5 percent in the second quarter after retreating 0.8 percent in the previous three months. It is Canada’s second recession in seven years and it is the only Group of Seven nation in economic retreat.

Read the full story at Yahoo News, by Michel Comte     

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