Podcast

Canada Economic Podcast – August 2022

Tony Stillo, Director of Economics for Canada, and fellow Economist, Michael Davenport discuss the prospect of a recession in Canada and what a recession could look like in today’s unique post-pandemic landscape. Economic momentum is already decelerating, and the Canadian economy is likely in store for a period of very weak growth in the second half of 2022 and 2023. We still view a soft landing as the most likely outcome for the economy, but the landing strip is very narrow! We’re increasingly concerned that overly aggressive monetary policy tightening with highly indebted household and a deepening housing correction could push the economy into recession. A recession isn’t a done deal just yet, but we think chances of a downturn are elevated at 40%.

Michael Davenport

Economist

+1 437 690 0266

Private: Michael Davenport

Economist

Toronto

Michael is an Economist on the US Macro team with a particular focus on the Canadian economy. He primarily supports the Director of Canada Economics in producing macroeconomic research and forecasts, monitoring the Canadian economy, and liaising with clients and the media. Michael first joined Oxford Economics as an Economic Research Analyst Intern in the Toronto office in early 2019 and has since been promoted to an Economist. Michael holds a Bachelor of Arts in Economics and Financial Management from Wilfrid Laurier University.

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