Many economists predicted a recession in 2023. But consumers flipped the script on the experts.

While the overall global picture is gloomy and almost 20% of the respondents now see an extremely likely chance of a global recession - double the number as in the previous survey in September - there are significant variations between geographies.

The Canadian economy is expected to avoid a recession in Q3-Q4 2023, according to the latest Main Street Quarterly report by CFIB.

But while we may not be in a recession yet, we’re starting to see signs that economic growth is slowing. Forecasters at major Canadian banks are now predicting that Canada’s economy will experience two quarters of near zero or negative real ...

January 24, 2023 - In a recent poll of economists, the World Economic Forum found that nearly two-thirds of the respondents believe there will be a recession in 2023.

September 16, 2022 - If this were accompanied by financial-market stress, global GDP growth would slow to 0.5 percent in 2023—a 0.4 percent contraction in per–capita terms that would meet the technical definition of a global recession.

December 22, 2023 - Recession is less likely in the coming year as data now point to a successful soft landing. In future histories, 2023 may be known as the year of the recession that never came.

March 26, 2025 - Against that backdrop, the most likely scenario is still that the U.S. and Canadian economies will both enter mild recessions over the middle-quarters of 2023. So far, labour markets have been resilient, but it takes time for higher interest ...

With a recession seeming imminent, many Canadians are rightfully concerned about the state of their finances. Here are some ways you can be prepared for one.

January 23, 2024 - Canada’s economy hit a technical recession at the end of 2023 and will continue to struggle to grow in the new year, according to forecasts from the Canadian Federation of Independent Business.

The Canadian economy is now expected to avoid a recession, and instead see subdued growth in the coming quarters as the impacts of higher interest rates continue to build (Chart 15).

June 30, 2023 - Tuan Nguyen, economist with RSM Canada, said in a note on Friday that the economic strength in the first two quarters of the year will push the predicted recession to the latter half of 2023.

January 1, 2023 - There is always the possibility of something unpredictable happening, but here are three different economic scenarios that could play out in 2023: Many economists are predicting that the United States will likely tip into a mild recession in 2023.

February 29, 2024 - The Canadian economy continues to beat recession fears, posting modest growth in the fourth quarter even as high interest rates weighed on consumers and businesses. Statistics Canada reported Thursday that real gross domestic product increased by an annualized rate of one per cent, beating economists' expectations and the Bank of Canada's forecast for the final three months of 2023.

June 3, 2024 - My judgment call remains that the recession will begin in the first half of 2024, or possibly late in 2023. Memories of the 2008-09 recession are unfortunate because this one will certainly be much milder.

Companies will experience turbulence ... stricter requirements for commercial loans. Energy Price Spikes Oil prices also indicate a coming recession. A barrel of oil has risen to 95 USD in October 2023, up 25 USD since Summer ...

January 5, 2023 - David Mericle: The continued strength ... spiking to new highs give way to headlines about inflation falling and a recession possibly looming....

September 12, 2023 - Many economists and financial experts are confident a recession will happen in 2023, but some, like Jamie Dimon, CEO of JP Morgan, are pushing predictions for a recession toward the end of 2023, feeling they might have overestimated the severity ...

December 19, 2022 - Canada will be in recession for most of 2023.

You need to enable JavaScript to run this app