
Is a recession coming, and how bad will it get?
The Big Story
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Can Consumer Spending Be Powered by Savings From the Pandemic?
I've seen a couple of surveys and articles about Canadians planning to spend less on Christmas gifts. I would not expect to see the first signs of the recession in a sudden drop off in consumer spending. As those other things, you know, construction, business investment, financial, market, chaos, etc. start to take their toll, that's when you will see consumers raining back what they're buying. And then that reinforces the negative momentum of the whole economy.
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