Too soon to call recession, says Canadian authority on economic downturns - BNN Bloomberg

OTTAWA — The unofficial authority on recession calls in Canada says it’s too soon to use that word to describe the sluggish economy. Debate has raged on Parliament Hill over whether the country is in a recession since Statistics Canada reported last week that the economy contracted for two quarters in a row. Canada is in a technical recession, economists say. Here’s what that means The C.D. Howe Institute’s Business Cycle Council is traditionally viewed as the arbiter on calling a recession in Canada. The council said in a bulletin Friday that two quarters of declining GDP in a row are not…