Canada in Recession: Economists Blame US Trade War
Economists are predicting that Canada is already experiencing the early stages of a recession. This downturn is being attributed to a number of factors, with the ongoing trade war with the United States playing a significant role. The projected economic contraction for the second and third quarters indicates a technical recession, a situation defined by two consecutive quarters of negative economic growth.
Unemployment is rising in Canada concurrently with this predicted contraction. This is a key indicator of a slowing economy, as businesses reduce their workforce in response to decreased demand and profitability. A rise in unemployment often translates to decreased consumer spending, further exacerbating the economic slowdown.… Continue reading
Matt Underwood