OTTAWA — Canada’s economy slipped into a technical recession in the first three months of 2026, according to new figures from Statistics Canada.The economy was essentially flat during the quarter but slightly negative overall, marking the second straight quarter of economic decline.Statistics Canada said the slowdown was mainly caused by a jump in gold imports and weaker activity in the mining, quarrying, and oil and gas sectors in March.There may be signs of improvement ahead. The agency estimates the economy grew 0.4% in April as activity in the resource sector picked up again.Conservatives were quick to criticize the Liberal government following the report.“Canada is officially in recession,” Scot Davidson wrote on X.“The Carney Liberals still haven’t secured a trade deal, haven’t cut the taxes blocking investment, and haven’t cleared the red tape strangling the industries that power our economy.”.MP Sandra Cobena also blamed the downturn on Liberal policies.“Canada is officially the only country in the G7 in a recession after two straight quarters of economic decline, the result of years of Liberal economic failure,” she wrote on X.“Higher costs. Slower growth. Less investment. Canadians are working harder while falling further behind.”“We Conservatives will continue fighting for lower taxes, stronger investment, and an economy that puts hardworking Canadians first.”
