In Canada, who officially determines whether the economy is in a recession or expansion?

Question

Quizplus · Accepted Answer

Statistics Canada is responsible for determining whether the Canadian economy is in a recession or expansion. They use various economic indicators, such as gross domestic product (GDP), employment rates, and consumer spending to make this determination. The Bank of Canada, while an important player in the Canadian economy, does not have the official responsibility of determining recessions or expansions. The Prime Minister and Parliament also do not have this responsibility.

In Canada, Who Officially Determines Whether the Economy Is in a Recession