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Economic Viewpoint

Verging on Recession or Just a Regression?

July 19, 2024
Royce Mendes, Managing Director and Head of Macro Strategy • Tiago Figueiredo, Macro Strategist

The recent jump in Canada’s unemployment rate has many worried that a recession is lurking around the corner. It’s not like Canada’s economy has been firing on all cylinders lately. However, there are reasons to believe that the economy is not destined for such an outcome and that a soft landing is still possible.

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Verging on Recession or Just a Regression? (PDF, 317 KB)
NOTE TO READERS: The letters k, M and B are used in texts, graphs and tables to refer to thousands, millions and billions respectively. IMPORTANT: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way warrants that the information is accurate or complete. The document is provided solely for information purposes and does not constitute an offer or solicitation for purchase or sale. Desjardins Group takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. Data on prices and margins is provided for information purposes and may be modified at any time based on such factors as market conditions. The past performances and projections expressed herein are no guarantee of future performance. Unless otherwise indicated, the opinions and forecasts contained herein are those of the document’s authors and do not represent the opinions of any other person or the official position of Desjardins Group.