Canada will narrowly avoid an outright recession, but economic growth downturn is a result of the multiple interest rates hikes. This will continue for a prolonged period, according to the consensus of economists recently polled by Bloomberg.
The poll, which was conducted from October 13-18, also found that Canadian GDP will be essentially flat in the fourth quarter, only slightly ticking up to a 0.3% annualized pace by Q1 2024.
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