Rights & Money

Is a Recession Ahead? Half of Us Think So

Just over half of Canadians expect a recession next year


By Jennifer Hughes

Photo: iStock/ronniechua.

The 2008–20097 recession hit much of the globe. Although Canada wasn’t affected as badly as the United States or European countries, the recession hit many people hard, and a recent poll suggests that Canadians are evenly split on whether we’ll see another downturn within a year.

According to an Ipsos poll done conducted for Global News just before the federal election, 52% of the 1,502 people surveyed agreed strongly (10%) or somewhat (42%) that we’ll enter a recession within a year. And Canadians aren’t overwhelmingly optimistic when it comes to their own ability to get through a recession: 46% said they were in a good position to weather the storm, but more than half (54%) said they’re not set for a downturn. Nevertheless, half (51%) believe that the country is in a good position to face a recession.

Overall, the poll showed that Canadians seem to be pretty pessimistic when it comes to the future. Canadians were more likely to believe that the national economy, general affordability, and their own ability to save will worsen in the next year than they were to expect improvement.