Canadians grew more pessimistic about the economy last month, according to a new sentiment gauge that tracks households’ feelings about where the economy is headed and the state of finances.
“What I am seeing is the bleakest and most biting outlook that I have seen since we started this and for many years previous,” said John Wright, Maru’s Toronto-based executive vice-president.
Wright found that 70 per cent of respondents believed the economy was “on the wrong track,” a significant jump from 65 per cent in September. The result suggests higher interest rates and increased talk of a recession are weighing on the public mood. The last time any of the survey participants had anything good to say about the Canadian economy was back in November 2021, when 54 per cent said they approved of its trajectory.
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