Economic woes: Canadian recession worries linger as calendar turns
CTV
After an unpredictable few years, many Canadians are concerned 2024 could bring with it some tough economic times.
After an unpredictable few years, many Canadians are concerned 2024 could bring with it some tough economic times.
A new survey by Leger found 72 per cent of respondents are worried about the possibility of a recession.
And the data isn't ruling it out.
As Canada’s Central Bank tries to slow the economy and cool inflation, its interest rate hikes have contributed to economic stagnation.
Inflation has cooled, but prices haven't dropped, and spending levels aren't evening out. The unemployment rate also rose slightly in 2023.
It's all resulted in five months of little to no economic growth -- and Canuck confidence reflects just that.
"The overwhelming majority of Canadians are worried about a recession," John Shmuel with Rates Dot Ca said. "That's a very serious number. If you look at what we've seen in the past few months, the economy is clearly not strong and (people) are feeling that."
