Immigration has buoyed Canada\u0027s economy, but it may not be enough to keep it from recession, says economists. Read more
under the weight of rising interest rates — at least on the surface — as newcomers contribute to headline gross domestic product by increasing demand in the economy and the supply of workers.
was the weakest since the pandemic’s first lockdown in 2020 and suggests GDP likely fell last month, said Brown. Such a decline could add up to two consecutive quarterly contractions, Recent confidence surveys do not bode well for the economy, says National Bank economist Matthieu Arseneau. The mood of consumers appears to be just as pessimistic. The Conference Board of Canada’s latest consumer confidence index also dropped to its lowest since the start of the pandemic. As Arseneau’s chart below shows, both consumer and small business confidence levels are now at recessionary lows.
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