StatsCan says the economy contracted at an annual pace of 0.5% in the second quarter of the year which is slightly less than analyst estimates and also lower than the 0.8% decline in Q1.
June ended the GDP's five-month losing strak with a 0.5% gain. Most notable was a 3.1% increase in natural resources extraction suggesting oil prices could be near a bottom.
While this contraction over the first half of the year isn't anywhere near the contraction during the Great Recession of 2009 -- an 8.7% decline in first quarter and 3.6% decline in second -- it does provide interesting conversation for leaders of the three major political parties on the road to the October 19 election.
The recession conversation continues.
Files by CP
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Statistics Canada is reporting that GDP fell in the second quarter, confirming fears that the economy was in recession for the first half of 2015.