While the C.D. Howe Institute may be seen as a right centre think tank it characterizes itself as non-partisan and recently issued a statement indicating it is too early to declare a recession. The “R” word has been bandied about by Conservative Leader Pierre Poilievre of late who blames Prime Minister Mark Carney’s policies for the country heading into recession territory.  The C.D. Howe Institute’s Business Cycle Council, which is considered the authority that would declare a recession, spoke out following Statistics Canada’s GDP data at the end of May which showed a second consecutive quarterly decline in real output. The Institute says it doesn’t accept the definition of a “technical recession”. The Council classifies a recession as a pronounced, persistent and pervasive decline in real economic activity across a large number of sectors. the cumulative drop in GDP during the 1974 to 1975 recession which was 1.1 percent. Meanwhile, for Canada’s four subsequent recessions, cumulative declines were much larger. The think tank also highlighted growth in GDP in the third quarter of 2025, and a falling unemployment rate, as data that do not support a recession call at this time. The median standard of living that is seemingly unattainable for many due to everything from high cost of food to unmanageable housing costs would likely have many Canadians suggesting they’ve been in a recession since maybe 2019. So, whether its technical or an actual recession, it’s just another label for not being able to afford the cost of living.