Mike Moffatt | What does the Canadian recession mean?

Statistics Canada data released on September 1 for the second quarter of 2015 (April to June) revealed Canada’s economy shrank for two consecutive quarters, which fits the definition of a recession.

Assistant Professor Mike Moffatt spoke with the Ottawa Citizen to address the question: Should Canadians worry?

“There are a handful of important areas where Canadians could feel the pains of a downturn, whether or not it’s considered a recession,” said Moffatt.

Moffatt also discussed the impacts of job losses, the lower Canadian dollar, and declining housing prices.

For those who may be confused by the Canadian recession and its implications, Moffatt also explained in Buzzfeed Canada the basics of the recession and main concerns.