Bank of Canada says don't put much weight on GDP data showing technical recession
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FILE PHOTO: A view of the Bank of Canada building in Ottawa, Ontario, Canada May 8, 2025. REUTERS/Blair Gable/File Photo
OTTAWA, June 1 (Reuters) - The Bank of Canada on Monday cautioned against putting too much weight on recent GDP data which showed two consecutive quarters of decline on an annualized basis.
Senior deputy governor Carolyn Rogers said while two quarters of annualized contraction in GDP did meet one definition of a recession, the April advance estimate showed the economy most likely rebounded.
"I think we need to be careful not to put too much weight on any one indicator," she told a parliamentary committee.
(Reporting by Promit Mukherjee; editing by David Ljunggren)
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