Is Canada Going Into A Recession 2024

Is Canada Going Into A Recession 2024. With households feeling less wealthy and higher debt payments and prices cutting into purchasing power, consumer spending is likely to slow later in 2023. Former bank of canada and bank of england governor mark carney says canada likely will head into a recession next year but will fare better than many other.

Canada looks set to dodge a recession despite the ongoing downward pressure from higher interest rates, deloitte canada said in its economic outlook report. The canadian economy will begin 2024 still mired in recession as the lagged impact of higher interest rates continues to filter through.