Mr. Speaker, the hon. member is bringing the question to me by way of what economists are saying. Let me tell the House what some of the economists are saying.
According to Desjardins, “real GDP has contracted for two consecutive quarters”, but according to its analysis, “More than half of the industries in Canada have been expanding over the past six months, and consumers have continued to increase their purchases of good and services.”
According to RBC, “we continue to think underlying details in both the labour market and GDP data are better than” what is being headlined and stated in the growth of numbers.
According to TD Bank, “Looking to Q2, some bounce-back should be expected.”
According to the National Bank, “Two consecutive quarters of negative GDP growth can mean very different things depending on what’s happening to the population. Canada’s economy registered a tiny contraction in Q1, following a decline in Q4. Yet real GDP per capita rose nearly 1% in Q1”—