Globalnews.ca | Canada's economy enters 'tailspin' as oil shock takes toll Globalnews.ca The drop leaves the economy in its worst condition since the recession, according to experts. Shenfeld said sharply plunging prices for oil combined with other factors, like a weaker loonie, resulted in the country's economy starting the year “in a ... Oil shock takes bite out of Canada's economy in first quarter Canada's economy shrinks for first time in four years as oil shock sinks in Oil shock drags down Canadian economy in first quarter |