Toronto Star: ‘Cracks beginning to show.’ Consumer spending plunges in Ontario as interest rate hikes start to hurt
“Do rates need to be higher? Or do we just need to wait longer for them to work? Increasingly, I think the answer is the latter,” economist says.
Ottawa Business Journal: Ottawa’s ‘economic optimism’ means it is less likely to face recession, new report suggests
A new report from the Canadian Chamber of Commerce shows that more than 60 per cent of urban centres across Canada are likely facing recession — or “city-cession” — but Ottawa is one of the few major municipalities bucking the trend.
The Globe and Mail: Half of businesses say their costs are rising, and many plan to pass them on to consumers: survey
Half of businesses say their costs are rising, and many plan to pass them on to consumers.