Canada headed towards ‘moderate’ recession in 2023: RBC economists

TORONTO — Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising interest rates and ongoing labour shortages will push the economy into a “moderate contraction” next year. “We see growth slowing into the end of this year, but remaining positive, then we expect two quarters of declining GDP in Q2 and Q3 of 2023,” said RBC economist Na
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