The Canadian economy is weak and struggling to find its footing as the trade war with the United States drags on. But, early indicators appear to show it has, against the odds, dodged an outright recession.
"While the Canadian economy is under clear stress, the current contraction does not meet the definition of a recession with the data we have available," said Jeremy Kronick, co-chair of the C.D. Howe Institute's Business Cycle Council.
GDP numbers set to be released on Friday will likely confirm that diagnosis.
The economy shrank in the second quarter of this year. In April, May and June, the GDP contracted by 1.6 per cent on an annualized basis.
A recession is largely considered to have occurred when the economy contracts in back-to-back quarters.
This week's GDP numbers will prov