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Canada slips into technical recession as economy stalls in Q1: StatCan

Statistics Canada says economic growth stalled in the first quarter, leading to a second consecutive decline in real gross domestic product.That meets some definitions for a technical recession, though StatCan’s Friday report painted a mixed picture of the economy.Real gross domestic product by expenditure was essentially unchanged on a quarter-over-quarter basis, StatCan said. Converting that to an annualized rate — the figure most economists pay close attention to — magnifies the quarterly changes and results in a decline of 0.1 per cent in real GDP for the first quarter.That follows a real GDP drop of one per cent in the…

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