Key Themes for Canada in 2023: A year in recession
Canada has likely just entered a moderate recession that will last for much of 2023. Prevailing household debt and housing imbalances will mix with pandemic and geopolitical forces to make Canada’s recession deeper than most advanced economies. We expect GDP will contract by 1.3% in 2023, well-below consensus expectations, with six key themes featuring prominently.
Tony Stillo
Director of Economics, Canada
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Private: Tony Stillo
Director of Economics, Canada
Toronto
Michael Davenport
Economist
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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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