Define ‘recession’

Canada was in a technical recession for the first six months of this year.
However, in the month of June, the economy grew, beginning to pull the Canadian economy out of recession.
It was the government, under the Conservatives, which passed legislation that said two consecutive quarters of negative growth would indicate a recession.
This has become the theme of the election with all three major parties putting their spin on this week’s announcements about the economy.
Most economists in Canada today believe that the recession is over.
Contributing to the recession has been the drop in world oil prices and the layoffs of almost 35,000 workers across Alberta and Saskatchewan.
The price of crude oil that a year ago was hovering around $100 is now below $50. Drilling for oil and natural gas has almost come to a complete halt.
Research and exploration in the mineral industry and development of mines has slowed dramatically.
Canada’s falling dollar has begun to contribute growth in the manufacturing and export business. Consumer spending is up showing that Canadians have confidence in the economy. Housing sales are up across much of Canada.
The “R” word speaks to a period of time and, yes, Canada’s economy did shrink through the first five months of 2015.
The Canadian economy is not as robust as everyone hoped for, but it is still motoring along in slow speed and appears to be growing.
If the political parties believe that stimulus spending will aid the economy, by the time any money makes it way out of Ottawa, the slight recession will only be a faint memory in the minds of Canadians.