Is Canada on the brink of a recession? StatCan says yes

Statistics Canada released its GDP numbers for August yesterday—which showed a flat economy with no growth, missing analyst estimates for a tiny increase of 0.1 percent. The agency also released its preliminary forecast for September and the third quarter, which also points to flat growth.

That, technically, would put Canada’s economy into a recession, defined as two quarters of economic contraction. The GDP in the second quarter contracted 0.2 percent. Some economists says that the latest GDP numbers should put an end to interest rate hikes from the Bank of Canada.