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RBC Economists Say Recession Could Happen Sooner Than Expected

Started by Epoch-Times-Bot, Oct 14, 2022, 05:30 PM

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Epoch-Times-Bot

Oct 14, 2022, 05:30 PM
RBC Economists Say Recession Could Happen Sooner Than Expected

The Royal Bank of Canada (RBC) has changed its forecast, predicting an upcoming recession will arrive sooner than expected.
While some say it will be mild and others say it will be full-blown, many economists say that a recession—which is usually defined as two quarterly periods of negative economic growth—is on the horizon for 2023.
"Cracks are forming in Canada's economy," RBC's forecast stated. "Housing markets have cooled sharply. Central banks are in the midst of one of the most aggressive rate-hiking cycles in history."
RBC changed its forecast to a recession in the first quarter of 2023 rather than the second quarter. "What happens next will depend on a range of factors, with interest rate increases the most significant among them," the forecast said....

Source: RBC Economists Say Recession Could Happen Sooner Than Expected

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