82 Percent of Canadians ‘Pessimistic’ About Country’s Economic Outlook for 2024

Canadians are pessimistic about their own personal finances and the economic outlook of the country this year, with 82 percent saying Canada is in recession, a new survey shows. While Canada is not technically in recession, which is defined as two consecutive quarters in which the economy declines, the vast majority of Canadians believe it is and don’t expect 2024 to be any better. Pollara Strategic Insights’ annual economic outlook found that 52 percent of those surveyed expect Canada’s economy to worsen in 2024 while 24 percent don’t expect the economy to change. Only 15 percent believe it will improve. The latest survey “finds Canadians’ 2024 financial outlook among the most pessimistic Pollara has recorded over this poll’s 29-year history,” Pollara said in a news release. “This post-COVID economic malaise is being driven by the housing market and high interest rates.”...