Worst Plunge in Canada’s GDP since 2009

In the second quarter, Canada’s economic activity, as measured by inflation-adjusted GDP, fell 0.4% from the first quarter, or 1.6% annualized, “the largest decline in quarterly GDP since the second quarter of 2009,” as Statistics Canada put it in its data release. It was a brutal reversal of the first quarter, when GDP had jumped an upwardly revised 2.5% annualized. -- More...