Things are shifting it seems. I’m by no means saying things are sunny ways and all but there is a more optimistic outlook than was previously predicted. I generally trust my financial advisor who is saying similar things.Some in Canada are predicting sunny ways and smooth sailing, but our economy is heavily resource focused and we know that the current government is policy-bound and actions-proven to not seek to maximize the productivity of large portions of Canada’s resource base. Theyre sticking with virtuous words and pixie dust to fuel economic recovery.
Down South, it’s still much more uncertain, many predicting the US will go into mild recession somewhere around 24Q3. If they do, I have a hard time seeing Canada avoid it…particularly since there seems to be no intent for the Government to adjust to increase productivity, particularly with increased global uncertainty.
Recession coming in 2024? 7 experts weigh in
5 On Your Side reached out to seven economists to hear their thoughts on a potential upcoming recession. Their collective opinion is unanimous: a recession looms on the horizon.www.wral.com
WSJ News Exclusive | A Recession Is No Longer the Consensus
Economists are turning optimistic on the U.S. economy. They think the Fed is done raising interest rates and inflation will continue to ease.
www.wsj.com
No Recession? Economists Are Now Predicting Brighter Days Ahead: New Survey Reveals Why
Economists anticipate a 2.2% rise in the gross domestic product (GDP) in Q4 2023, showing a significant upward revision from the former forecast of 1% growth.
www.benzinga.com
Bank of Canada says higher long-term bond yields no substitute for policy
Bank of Canada Governor Tiff Macklem on Friday, speaking ahead of an interest rate decision on Oct. 25, said a recent surge in long-term bond yields is not a substitute for monetary policy and the economy is not heading for a deep recession.
www.reuters.com
None of that though will convince voters if they still can’t buy food and shelter in an affordable way.