Deloitte\u0027s most recent economic outlook report forecasts Canada will enter a short\u002Dlived recession by the end of the year.
Deloitte’s most recent economic outlook report forecasts Canada will enter a short-lived recession by the end of the year.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Given the existing hiring challenges, he said employers won’t be inclined to lay off workers even if there is an economic downturn so long as it’s expected to be temporary. The Bank of Canada has raised its key interest rate five times since March, bringing it to 3.25 per cent. While inflation slowed to 7.0 per cent in August, the central bank is still expected to hike interest rates again in October.Article content
The report from Deloitte says household consumption will fall as the slowdown continues but for households that accumulated savings, their spending won’t be impacted as much.
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