Recession fears, high rates to slow spending for businesses, consumers: BoC survey
Businesses and consumers alike are trimming their spending plans ahead of a possible recession, according to new surveys from the Bank of Canada.
The central bank’s fourth-quarter surveys of business and consumer sentiments, published Monday, showed an overall dour outlook for 2023, with the majority of both polled cohorts indicating they expect a recession in the next 12 months.
