Terrible recent economic numbers will add to growing fear of a recession.
A new Nanos survey for Bloomberg News shows growing fears of an upcoming recession among Canadians.
According to the survey, 56% of Canadians view a recession in the upcoming year as “somewhat likely,” while just 34% say it’s “unlikely.”
The report notes concerns about recession is “a sentiment broadly held across regions, gender and age.”
While fear of an upcoming recession is highest in provinces that are struggling the most (in the West), a majority of people in BC and Ontario also see an upcoming recession.
Economic pessimism can also be seen in other ways:
“Household sentiment has been waning for a couple of months. A separate gauge of consumer confidence — the Bloomberg Nanos Canadian Confidence Index — ended November with its lowest month-end reading since January and well below historical averages. Another survey in late October found only 22 per cent of Canadians showed strong confidence in Prime Minister Justin Trudeau’s ability to create conditions for economic prosperity.”
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