Posted 12/28/2023, 8:44:15 PM
Canada Facing Risk of Recession as Economy Stalls for 5 Months
- Canada's economy is stagnating, with 5 straight months of no growth
- This stalled growth heading into 2024 mirrors past recessions like 2008-09 and 2015
- Households and businesses are pulling back spending due to high interest rates and inflation
- Much of the meager growth is in government sectors; private sector growth is flat or negative
- National Bank foresees a technical recession in 2023, with 2 consecutive quarters of GDP decline
