Nine out of 10 Canadians believe there could be a recession in 2023, according to a new national survey, with four out of 10 calling it 'likely.'
Nine out of 10 Canadians believe there could be a recession in 2023, according to a new national survey, with four out of 10 calling it “likely.”
That same report found that the average Canadian household could lose $3,000 of buying power next year. A myriad of factors are contributing to this threat of recession, experts say, with cooling housing markets and unemployment levels showing the weakening of our economy., with grocery prices climbing at a pace not seen in decades within the last few months, according to Statistics Canada.
When split into age brackets, those aged 35 to 54 were the most likely to believe that a recession was coming in 2023, with 90.4 per cent answering likely/somewhat likely, compared to 88.4 per cent of those aged 18 to 34 years, and 82.6 per cent of those aged 55 plus.
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