The debate about whether Canada is in a technical recession or not is immaterial. What matters is whether or not the economy can show sustained growth over time.
That was the message from Philip Cross, Senior Fellow with the Macdonald-Laurier Institute, in an interview with BNN.
Cross says a discussion about the phrase technical recession is a waste of time.
“It doesn’t address the question also of whether the decline is widespread or diffuse enough to be called a recession”, he says.
Instead what will matter is the Canadian economy’s ability to sustain growth over the long-term.
“The important thing is whether growth stalls or picks up significantly, as we’ve seen in the U.S.”, says Cross.
He also authored a column on the recession talk in a column in the Financial Post.