Key facts
- Canada's economy has entered a technical recession.
- Prime Minister Mark Carney stated the government's economic plan is 'settling in'.
- Carney attributed economic weakness to policy decisions aimed at dealing with U.S. tariffs.
- Carney expects future economic data volatility due to government transformation efforts.
Canadian Prime Minister Mark Carney has indicated that the nation's economic data is expected to be volatile. He attributed this volatility to the government's ongoing efforts to transform the economy and policy decisions aimed at dealing with U.S. tariffs. Carney made these remarks in reaction to the recently released gross domestic product report, which showed the country has tipped into a technical recession. He further stated that the economic plan is 'settling in' following this shrinkage.