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Canada Is In a Recession — What It Means for Your Money

It's official. Canada has entered a technical recession for the first time since 2020 — and it happened faster than almost any economist predicted. Statistics Canada confirmed Friday that the economy shrank for a second consecutive quarter, with Q1 2026 posting a 0.1% annualized contraction, following a 1.0% drop in Q4 2025. Forecasters had been expecting 1.5% growth . The surprise is significant. So what does this actually mean for everyday Canadians? Your job, your mortgage, your savings, your debt — we break it all down. −0.1% Q1 2026 GDP (annualized) −1.0% Q4 2025 GDP (revised down) 2.25% Bank of Canada overnight rate 2.8% Canada inflation rate (April) "Most businesses are basically in a holding pattern, treading water, hoping for brighter days." — Dan Kelly, President, Canadian Federation of Independent Business 📉 Wait — Is This Really a Recession? The term "technical recession" means two consecutive quarters of negative GDP growth on an annualized basi...
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Global IT Outage Grounds Porter Flights in Toronto

 

Porter Airlines has been forced to cancel all flights until at least noon today due to a global IT outage affecting multiple industries. The disruption, which began early this morning, has caused significant delays and cancellations for passengers traveling through Toronto.

The issue stems from a malfunction in the Falcon Sensor software by cybersecurity firm Crowdstrike, which has led to widespread crashes of Microsoft Windows systems. As a result, Porter Airlines’ operations have been severely impacted, with passengers unable to rebook flights until the systems are back online.

Toronto’s Pearson Airport has reported varying impacts across different airlines, with some American carriers also experiencing disruptions. Despite the challenges, essential services such as the city’s 911 and paramedic systems, as well as the TTC’s signal and safety systems, continue to operate normally.

Porter Airlines has advised passengers to expect further delays and cancellations as they work to resolve the issue and rebook affected flights over the coming days. The airline is urging travelers to stay updated through their official channels for the latest information.



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