Is Canada headed to a recession?
Another month and another eye popping inflation number for Canadians. The cost of living rose 7.7 percent in May, a 40 year high. It won’t surprise anyone who has filled up the tank or shopped for groceries in the last few months. It has money minds worried about the economy running off the rails.
The Bank of Canada has moved to curb inflation by hiking interest rates with further increases on the horizon. Fully three quarters of Canadians feel we are headed toward recession or are already there. This is more than a Made in Canada problem as the issues sparking it are global. Supply chain breakdown, Covid lockdowns in China and the Russian invasion of Ukraine have all thrown fuel on the red hot economy.
Is Canada headed for a recession?
Our Unpublished Vote question asks: Do you feel the Canadian economy is heading for a recession?
- 88% = Yes
- 6% = No
- 6% = Unsure
If you haven't voted yet, you can still do at the link below.