![\"gdp-0520\"](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/05\/1780094478_841_a47317c545c1fb23b7edf396fe8d460a.jpeg\")
This is the first time the Canadian economy experienced two consecutive quarters of negative growth since 2020. (Credit: Peter J. Thompson\/National Post) <\/p>\n This is the first time the Canadian economy experienced two consecutive quarters of negative growth since 2020. (Credit: Peter J. Thompson\/National Post) <\/p>\n
It\u2019s Friday, May 29. Here are the top stories we\u2019re following today.<\/p>\n
Canada\u2019s economy shrinks again, raising spectre of recession<\/a><\/p>\n Canada\u2019s real gross domestic product unexpectedly contracted slightly on an annualized basis in the first quarter of 2026, but economists stopped short of calling it a recession despite meeting the technical definition of two consecutive negative quarters.<\/p>\n Read the story<\/a><\/p>\n Is a technical recession enough to spur the Bank of Canada to cut interest rates?<\/a><\/p>\n Despite the negative gross domestic product surprise, markets are still pricing in a rate cut in 2026. Here\u2019s what the GDP data mean for the economy and the Bank of Canada.<\/p>\n Read the story<\/a><\/p>\n Scotiabank expands presence in the U.S. by buying Texas bank<\/a><\/p>\n Bank of Nova Scotia has inked a deal to acquire Maple Financial Holdings Inc., a Texas-based company that runs a commercial bank.<\/p>\n Read the story<\/a><\/p>\n Costco says it will return U.S. tariff refunds to members \u2018in some form\u2019<\/a><\/p>\n Costco Wholesale Corp. says it will return tariff refunds to its members if and when they are paid back by the United States government.<\/p>\n Read the story<\/a><\/p>\n Despite the negative gross domestic product surprise, markets are still pricing in a Bank of Canada rate cut in 2026. <\/p>\n
Bank of Nova Scotia earlier this week beat analysts\u2019 expectations for its second-quarter earnings, with results driven by stronger profits in its capital markets, wealth management and Canadian businesses. <\/p>\n
A Costco Wholesale Corp. store in in Mississauga, Ont. <\/p>\n
An investment strategy should be based in part on projected withdrawals but also risk tolerance and tax strategy. Scenario planning with a professional financial planner may help. <\/p>\n