Canada’s Economy Could Get Much Worse

It’s early September as I write this, and the news is filled with talk of a Canadian recession. Yet for all the focus on the possibility that the Canadian economy is contracting, most commentators are incredibly sanguine. Many economists are not yet willing to actually concede that Canada has been in a recession. Indeed, the C.D. Howe Institute’s Business Cycle Council, comprised of 12 high-profile economists, asserted in late July that “data did not provide evidence...