A recent report by BMO highlights growing economic concerns among Canadians, with a significant portion of the population expressing worries about inflation and the potential for a recession. The online survey, conducted by Pollara from November 8 to November 18, 2024, gathered responses from 1,500 adult Canadians, shedding light on the financial pressures facing the nation.
The survey revealed that 67% of participants reported inflation negatively impacting their current financial situation. With rising prices and the cost of living as top concerns, many Canadians are feeling the squeeze in their daily expenses. These financial strains have led to increased anxiety about the broader economy, with 63% of those surveyed expressing concerns about a potential recession in the next 12 months.
In addition to inflation worries, the survey found that 48% of respondents believed the economy would weaken over the next year. Only 19% held a more optimistic view, expecting economic improvement during the same period. This overall sentiment reflects a cautious outlook among Canadians, who are increasingly worried about the future economic landscape.
The report also highlighted looming tariff threats on Canadian exports to the United States, adding another layer of uncertainty to the economic outlook. With these concerns in mind, Canadians are understandably apprehensive about how these developments may affect their financial well-being.
Rising prices and the cost of living continue to be at the forefront of Canadians' minds. As everyday expenses increase, individuals and families are forced to adjust their budgets and spending habits. This financial pressure underscores the broader economic challenges that many are facing, prompting further worries about the future stability of the economy.
