Will Canada Go Into A Recession In 2024. Bmo has slightly adjusted our odds on the three broad scenarios for the canadian economy: Canada’s economy is showing signs of underlying strength as some consumers and businesses brush off recession fears, a flurry of data releases on friday suggest.
Oxford believes the recession started in canada in the third quarter of 2023 and will continue until the second quarter of 2024, resulting in a 1.1 per cent peak to trough decline in gross domestic product. The canadian economy is not in a recession, but many canadians are feeling the pinch and reining in their spending.