Recession ‘Virtually Guaranteed’ amid Energy Squeeze

Economist David Rosenberg said it’s growing increasingly likely Canada will fall into a period of recession in the near term, as the headwinds against the economy continue to stack up.

“Compounding all the other issues on the supply side globally is this energy squeeze we’re seeing,” said Rosenberg.

“This is a huge margin squeeze for most producers, and it’s a huge hit to the purchasing power for the … consumer.”

Those other issues he’s referring to include global supply chain disruptions, concerns about inflation running too hot and labour shortages, not to mention the still-present threat of COVID-19 outbreaks and business restrictions.

Read more in an article from BNN Bloomberg.

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