Canada is not in recession says think tank

The Business Cycle Council, part of CD Howe, says that Canada is not in recession. It said Tuesday that the usual metrics that trigger calls for recession are not evident. Many analysts have decided that the economy is in recession as there has been decline in two straight quarters, although that is based on just one month of Q2 plus expectation of a weak May (figures come out Friday). However the seven economists of the Business Cycle Council have a more complex definition: "a pronounced, pervasive and persistent decline in aggregate economic activity.”