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Aggressive monetary policy tightening, high inflation, lower household spending and a continued slump in housing will cause GDP to fall 2.
The IMF forecast global growth to slow to 3.
Most private sector forecasts in Canada now assume there will be some kind of a recession in early 2023.
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global stock markets would crash and the US economy would probably drop into a recession.
The IMF forecast global growth to slow to 3.
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Consumers, especially indebted households and equity-deserving groups, are facing financial pressures and limits on their spending due to high inflation and increasing interest rates.
Quebec – On the edge of recession Slumps in residential investment and the manufacturing sector have caused Quebec’s economy to lose significant velocity since the middle of 2022.
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Results in the first quarter of 2023 show that consumer expectations for inflation one to two years ahead fell but remain elevated, particularly for services.
