Glass half full: After the recession hits, vacancies should open up:
Most Canadians concerned about recession, Yahoo/Maru poll finds
As inflation soars and interest rates rise, Canadians are growing increasingly concerned that the economy is sinking into a recession, a
new Yahoo/Maru Public Opinion poll has found.
The survey of 1,517 Canadians found that 23 per cent of respondents believe the country will experience a recession in the next three months, while a majority (55 per cent) think it is currently in the midst of one.
This comes as most Canadians reported concern about the state of the economy, with 62 per cent saying they believe it is "moving on the wrong track."
Recession concerns have been on the rise in recent weeks, as central banks around the world try to bring inflation down from some of the highest levels seen in decades via rapid interest rate hikes.
The Bank of Canada is among the central banks trying to bring skyrocketing inflation back to the target range of between one and three per cent, with its next interest rate decision on June 1. The Consumer Price Index (CPI) increased 6.8 per cent on a year-over-year basis in April, driven largely by rising food and shelter prices. With gas prices spiking again this month, economists expect inflation to continue to accelerate, with
one economist predicting it could pop by more than 7 per cent.
Around a quarter of Canadians believe the country will experience a recession in the next three months, while 55 per cent think it is in the midst of one.
ca.finance.yahoo.com