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Analysts brace for recession confirmation

Thursday, July 16, 2015 @ 8:00 PM | By Jeff Buckstein

Domestic and in particular international pressures have taken their toll on the Canadian economy, leading to a widespread expectation that 2015 second-quarter data due later this summer will show the country in a technical recession after two quarters of GDP contraction.

Canada’s two biggest business provinces have been particularly hard hit. Ontario recently endured a credit downgrade. A precipitous drop in oil prices over the past year has slammed Alberta, forcing many in the oil patch to cancel or ditch plans to proceed with capital projects,...