{"id":57998,"date":"2025-03-28T15:35:58","date_gmt":"2025-03-28T15:35:58","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/28\/canadas-slumping-growth-hints-at-second-quarter-recession\/"},"modified":"2025-03-28T15:35:58","modified_gmt":"2025-03-28T15:35:58","slug":"canadas-slumping-growth-hints-at-second-quarter-recession","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/28\/canadas-slumping-growth-hints-at-second-quarter-recession\/","title":{"rendered":"Canada&#8217;s slumping growth hints at second quarter recession"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Statistics Canada releases GDP flash estimate for February showing growth flatlined<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Mar 28, 2025<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 8\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"4dc941aa-a570-4ee4-ba3e-36dcd794ce58\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">January was the first time GDP per capita rose over two straight months in two-and-a-half years. Previously, it contracted over several quarters as the economy failed to keep pace with the increase in population.<\/span> <span class=\"credit\">Photo by Justin Tang\/The Canadian Press\/Postmedia files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Canada\u2019s economy expanded by 0.4 per cent in January from the month before, beating analysts\u2019 estimates and setting the stage for quarterly annualized growth to hit the Bank of Canada\u2019s target of two per cent.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">But Statistics Canada\u2018s flash gross domestic product (GDP) estimate for February is flat, a possible sign of things to come as United States President Donald Trump\u2019s trade war continues to dent consumer and business confidence.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment193319888157458250950846789451776\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section class=\"row\">\n<header class=\"identity-intro col-xs-12 col-md-6 flex-justify-center\">\n<div class=\"col-xs-12 col-sm-10 col-md-10\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.3.3\/websites\/images\/identity\/logo-identity-fp.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/18.3.3\/websites\/images\/identity\/logo-identity-fp.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/18.3.3\/websites\/images\/identity\/logo-identity-fp.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/18.3.3\/websites\/images\/identity\/logo-identity-fp.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/18.3.3\/websites\/images\/identity\/logo-identity-fp.svg 320w, 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Joe O&#8217;Connor, Gabriel Friedman and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Here\u2019s what economists are saying about the latest GDP numbers and what they mean for the Bank of Canada and interest rates.<\/p>\n<h2>Balancing act: Alberta Central<\/h2>\n<p>The Canadian economy entered the new year on a \u201cstrong footing,\u201d but that doesn\u2019t really matter now, Charles St-Arnaud, chief economist at credit union Alberta Central, said.<\/p>\n<p>\u201cOverall, the strength in the economy at the start of the year does not alter the Bank of Canada\u2019s view that it will need to balance the deflationary impact of the tariffs against the inflationary pressures arising from higher costs resulting from the tariffs,\u201d he said in a note on Friday.<\/p>\n<p>For the moment, he is expecting policymakers to hold interest rates at their next policy meeting on April 16 unless something materially changes on the tariff front.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories5772118453298298591959872645890048\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" 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columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment9390625009349030034833547636768768\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Based on the \u201cextreme uncertainty\u201d created by Trump\u2019s tariff gyrations in February and March, St-Arnaud thinks the economy is headed for contraction in the second quarter.<\/p>\n<h2>\u2018Artificial boost\u2019: Oxford Economics<\/h2>\n<p data-async=\"\">January\u2019s strong GDP result was the result of an \u201cartificial boost,\u201d with companies pushing more exports to the U.S. to beat tariffs and the GST\/HST tax break supporting demand, Michael Davenport, senior economist at Oxford Economics Canada.<\/p>\n<p>He said it\u2019s only downhill from here for growth.<\/p>\n<p data-async=\"\">\u201cJanuary may represent the peak in economic activity as the U.S.-Canada trade war pushes Canada\u2019s economy into a recession beginning in Q2,\u201d Davenport said in a note.<\/p>\n<p>He doesn\u2019t think the Bank of Canada will put too much stock in the backward-looking GDP data, and he said policymakers will likely hold interest rates at the next meeting \u201c<span data-olk-copy-source=\"MessageBody\">to balance the negative hit to demand from tariffs against the upside risks to inflation.\u201d<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment8549279667264429547714795322474496\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<h2>\u2018Losing momentum\u2019: Capital Economics<\/h2>\n<p data-async=\"\">The poor flash GDP estimate for February can\u2019t be fully laid at the door of Trump\u2019s tariff threat, Thomas Ryan, North America economist at Capital Economics Ltd., said.<\/p>\n<p>\u201cNonetheless, it adds to the sense the economy is losing momentum,\u201d he said in a note.<\/p>\n<p>Slumping business and consumer confidence also appear to be front-running the growing anxiety regarding tariffs and the harm they could inflict.<\/p>\n<p>\u201cHowever, we are still yet to see the full impact of the emerging trade war with the U.S. on the hard data, which we expect to push the economy into a mild recession by mid-year,\u201d he said.<\/p>\n<h2>\u2018Backward data\u2019: Royal Bank of Canada<\/h2>\n<p data-async=\"\">\u201cBetter-looking backward data is less relevant given escalating trade risks and plunging consumer confidence into March,\u201d Nathan Janzen, assistant chief economist at Royal Bank of Canada, said in a note.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment850576070376742760179100771418112\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>He said most hard economic data has yet to reflect the drop-off in consumer confidence that was recorded in March by the Bank of Canada in a report it released alongside its last interest rate decision.<\/p>\n<p>RBC\u2019s tracking of credit-card transactions has yet to show a decline in spending up to mid-March, and job openings are better than they were at this time last year, Janzen said.<\/p>\n<section aria-labelledby=\"moreTopicLabel9984109300937503715662904990629888\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" rarely=\"\" hear=\"\" the=\"\" word=\"\" uttered=\"\" by=\"\" central=\"\" bankers=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Bank of Canada signage is shown in Ottawa, Monday, Oct. 21, 2024. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=80&sig=NBffPIdgSh27rKbF8UiuTw\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=5&sig=SG8hGvlt3c-2svm6noxxHw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=96&strip=all&quality=80&sig=NBffPIdgSh27rKbF8UiuTw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=192&strip=all&quality=80&sig=ooYNhdzdWOjhr5Hj7XoxZg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-mg-central-bank.jpg?h=288&strip=all&quality=80&sig=4OyMcPKmPB6x29U5QyW8YQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">You&#8217;ll rarely hear the word &#8220;stagflation&#8221; uttered by central bankers<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" business=\"\" leaders=\"\" concerned=\"\" economy=\"\" could=\"\" slide=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Members of the NDP caucus look up at a Canada flag hanging from their offices outside the Alberta Legislature, in Edmonton on March 25, 2025. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=80&sig=tOEzPdO1SbwlcBPb0yIJLQ\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=5&sig=mE7Ou4-L1RiyAMsK4qzN6Q&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=96&strip=all&quality=80&sig=tOEzPdO1SbwlcBPb0yIJLQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=192&strip=all&quality=80&sig=yj4cbRf_o_YxheU0GcLBmQ 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0328-bc-flag.jpg?h=288&strip=all&quality=80&sig=Conj3CFxfRl9zfkUUTAQ2w 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canadian business leaders concerned economy could slide<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" economic=\"\" indicators=\"\" flashing=\"\" red=\"\" investors=\"\" need=\"\" to=\"\" manage=\"\" risk=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"In times of heightened economic uncertainty, prudent risk management and strategic positioning are paramount, writes Martin Pelletier.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=80&sig=eTEu_xo88dXa2krdE6S_rw\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=5&sig=BxOgzYehWrJijpDQFjbcdA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=96&strip=all&quality=80&sig=eTEu_xo88dXa2krdE6S_rw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=192&strip=all&quality=80&sig=AGzXvuZtwRopkW3eX9dHAw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0322-mg-risk.jpg?h=288&strip=all&quality=80&sig=fUeqWjcmwLkr7WIxBKVNVQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">With economic indicators flashing red, investors need to manage risk<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>January was the first time GDP per capita rose over two straight months in two-and-a-half years. Previously, it contracted over several quarters as the economy failed to keep pace with the increase in population.<\/p>\n<p><span data-olk-copy-source=\"MessageBody\">\u201cBut international trade risks continue to cloud the outlook, with the details behind another round of expected tariff announcements next week (having) the potential to significantly impact the Canadian economic growth outlook,\u201d he said.<\/span><\/p>\n<p data-async=\"\"><em>\u2022 Email: gmvsuhanic@postmedia.com <\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Canada&#8217;s slumping growth hints at second quarter recession<\/a><br \/>\n<br \/>2025-03-28 15:35:58<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Statistics Canada releases GDP flash estimate for February showing growth flatlined Published Mar 28, 2025 \u00a0\u2022\u00a0 Last updated 8\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You&#8230;<\/p>\n","protected":false},"author":2,"featured_media":57999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0329-mg-stats-can.jpg?quality=90&strip=all&w=288&h=216&sig=v8-hqwiVRvJSgESUUE7j1w","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-57998","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=57998"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/57999"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=57998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=57998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=57998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}