Canadians Are On Year Three Of A People’s Recession

A new Deloitte report is projecting 1.3 percent GDP growth for Canada this year. The same report says that as long as Donald Trump keeps the CUSMA carve-outs in his tariff plan—meaning that most of the goods we export to the United States won’t face tariffs—we can look forward to 1.7 percent growth next year. This would mark a return to the growth rates we saw in 2023 and 2024.

Economists seem cautiously optimistic that Canada will avoid a recession and return to a period of relative stability.

This should be great news. On paper, the economy has proved its resilience in the face of serious challenges. But why then do things feel increasingly precarious?

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