RBC economists say soaring food and energy prices, rising interest rates and ongoing labour shortages will push the economy into a ‘moderate contraction’ next year
Canada is headed toward a recession in 2023, but it is likely to be short-lived and not as severe as prior downturns, according to a new report from RBC.
RBC says it expects the unemployment rate to reach 6.6 per cent next year, but doesn’t think it will take long to reverse some of that weakness in 2024 and beyond. RBC also expects house prices to fall 10 per cent in the year ahead, subtracting over $800 billion from household net worth.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada headed toward 'moderate,' 'short-lived' recession in 2023: RBC economistsTORONTO — Canada is headed toward a recession in 2023, but it is likely to be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists say soaring food and energy prices, rising interest rates and ongoing labour shortages will push the economy into a 'moderate contraction' next year. RBC says it expects the unemployment rate to reach 6.6 per cent next year, but doesn't think it will take long to reverse some of that weakness in 2024 and beyond. Househo
Read more »
Canada headed toward “moderate,” “short-lived” recession in 2023: RBC economists | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
RBC predicts Canada heading for recession in 2023 - BNN BloombergRBC is predicting this country will likely endure a 'moderate and short-lived' recession next year.
Read more »
Canada headed toward “moderate,” “short-lived” recession in 2023: RBC economists | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
Canada headed toward 'moderate,' 'short-lived' recession in 2023: RBC economistsTORONTO — Canada is headed toward a recession in 2023, but it is likely to be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists say soaring food and energy prices, rising interest rates and ongoing labour shortages will push the economy into a 'moderate contraction' next year. RBC says it expects the unemployment rate to reach 6.6 per cent next year, but doesn't think it will take long to reverse some of that weakness in 2024 and beyond. Househo
Read more »