Is There Recession In Canada 2024. The previous predictions were based largely on historical patterns and theoretical. Tuan nguyen, economist with rsm canada, said in a note on friday that the economic strength in the first two quarters of the year will push the predicted recession to the latter half of 2023.

But unemployment is rising, consumer spending is expected to slow further and the bank of canada has a laundry list of things it’s worried about. However, we expect a modest recovery in the latter half of 2024 as the bank of canada begins to cut interest rates, disinflation continues, and global growth improves.