Statistics Canada just released new figures on how the Canadian economy did in the second quarter of the year.
The new figures, released Tuesday, show that gross domestic product (GDP) went down by 0.1% from April to June. This follows a 0.2% decrease in GDP in the first quarter of 2015.
Two straight quarters of decline officially puts Canada's economy in recession.
But WTF does any of that mean?
First, in simple terms, what is GDP?
What is a recession and how do you measure it?
How bad is it? Should we be freaking out?
Is this because of oil?
This is going to be a big part of the federal election campaign, but what does being in recession actually mean for the average person, the average voter?
Does this affect the price of anything in Canada, though?
Should I sell all my stuff and buy gold?
Ishmael N. Daro is a reporter for BuzzFeed News and is based in Toronto. PGP fingerprint: 5A1D 9099 3497 DA4B
Contact Ishmael N. Daro at email@example.com.
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