Canadian Prime Minister Stephen Harper is declining to say the country is in recession despite new data that shows that it is.
Government agency- Statistics Canada- reported today that the economy contracted at an annual pace of 0.5 per cent in the second quarter and 0.8 percent during the first three months of 2015.
Economists deem two conservative negative quarters a recession. But according to the Associated Press, Mr. Harper refused to call it that, saying “we’ve had a few weak months” but the economy is bouncing back and pointed to growth in June.
Mr. Harper has reportedly blamed low oil prices for the slumping economy.