Canada is facing growing economic headwinds as key trading partners teeter on the brink of recession, piling worries about trade and commodity prices on top of concerns about the domestic economy. The Globe and Mail has shared insights into what Canada’s economic future may look like.
In this article, reporter Mark Rendell looks at potential pitfalls that could tumble the country into a recession. Rising interest rates, the European energy crisis, and a darkening outlook for the U.S. are all potential culprits.
This article features the Oxford Economics recession model for Canada which indicates that a recession is imminent. Oxford Economics’ director of Canada economics, Tony Stillo, warned that a moderate downturn will start in the next quarter and last until the middle of 2023.