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- Canada is headed for a 'severe' and 'almost inevitable' recession in early 2023, according to the head of economics at Macquarie Group, which states Canada will face an approximately three per cent contraction in gross domestic product and a five per cent rise in its unemployment rate during the predicted recession.
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Will Canada hit a 'deeper' recession in 2023?
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Apr 7, 2023 · Ongoing calls from a chorus of economists predicting a recession to hit Canada in 2023 have come up against surprisingly strong economic data in the early part of the year, making the tea...
- Recession will be ‘deeper’ than first thought, but job loss ...
The consultancy and financial services firm said in a report...
- Will there be a recession in Canada? What the latest data ...
BMO chief economist Doug Porter said in a note Friday...
- Recession will be ‘deeper’ than first thought, but job loss ...
Jan 17, 2023 · The consultancy and financial services firm said in a report Tuesday that the Canadian economy will hit a “deeper” recession in 2023 than it initially forecast last September.
Jun 30, 2023 · BMO chief economist Doug Porter said in a note Friday morning that despite calls for a slowing in Canada’s economy this year, the country has not posted a single month of negative growth so far...
- Inflation Will Continue to Dominate 2023
- Recession Forecast
- Should Bounce Back
Even seasoned forecasters have found this a tricky period to navigate. The economy is awash in contradictions and the data are quite noisy. "I'm coming up on my 10th anniversary as chief economist. I would say 2020 was the weirdest [year]," said BMO's chief economist Douglas Porter. "But this [year's] is a very odd cycle." He points to the end of t...
Most private sector forecasts in Canada now assume there will be some kind of a recession in early 2023. Those forecasts assume that it will be short and mild. But it doesn't take much to nudge a short and shallow recession into something much worse. In fact, researchers at Oxford Economics believe Canada has already slipped into a recession. "Cana...
That could lead to a faster bounce back in economic growth. And eventually, it would open the door to a reduction in borrowing costs. A recession has proven to be a pretty effective tool to bring down prices. When the economy shrinks, people don't buy as much stuff. When they don't buy as much stuff, prices begin to fall and rebalance with demand. ...
Dec 16, 2022 · Prevailing household debt and housing imbalances will mix with pandemic and geopolitical forces to make Canada’s recession deeper than most advanced economies. We expect GDP will contract by 1.3% in 2023, well-below consensus expectations, with six key themes featuring prominently.
Jan 17, 2023 · Canada will enter a deeper recession than previously expected this year as the Bank of Canada's rapid interest rate hikes take hold and the U.S. economy enters a slowdown, according to...
Sep 30, 2022 · Canada is headed for a 'severe' and 'almost inevitable' recession in early 2023, according to the head of economics at Macquarie Group, which states Canada will face an approximately three...
