Canada has faced nearly a decade of weak per capita GDP growth and secular stagnation. Statistics Canada confirmed the country slipped into a technical recession after two consecutive quarters of negative GDP growth in late 2025 and early 2026.

Neither of those imply "collapse," just that the economy could be doing better than it is. There's a vast continuum between "collapse" and "red hot." Canada's economy is doing just fine despite a few weak points.

And preliminary Q2 GDP numbers look very good, it appears the technical recession is most likely over (TBC once the final Q2 release is firmed up at the end of the month). Just two negative growth quarters when your southern neighbour has threatened to annex you by "economic force" is pretty damn good.