Half of Canadians and Americans think their countries are in a recession now: poll
Global News
The results of the Leger survey suggest that Canadian and Americans hold many similar views on the state of the economy and their personal financial status.
As Canada stares down U.S. President Donald Trump’s repeated threats of devastating tariffs, roughly half of Canadians and Americans believe their countries are in an economic recession right now, a new poll suggests.
The results of the Leger survey — which polled both Canadians and Americans — suggest that Canadian and Americans hold many similar views on the state of the economy and their personal financial status.
The poll also suggests that 39 per cent of Canadians who are currently employed are worried about losing their jobs within the next 12 months — a three-point increase since last month.
Sébastien Dallaire, Leger’s executive vice-president for Eastern Canada, said that the results “add up to a long series of difficult moments.”
The poll was conduced between Feb. 14 and Feb. 17 and surveyed 1,550 Canadians and 1,000 Americans. Because it was conducted online, it can’t be assigned a margin of error.
The survey says that 50 per cent of Canadians and 51 per cent of Americans polled believe that both countries are already in a recession.
Neither country is experiencing a recession right now but the Canadian Chamber of Commerce estimates that Trump’s threatened 25 per cent, across-the-board tariffs would shrink Canada’s economy by $78 billion and push the country into a recession by next summer.
The chamber estimates the U.S. economy would also take a hit of US$467 billion.
Bank of Canada governor Tiff Macklem said the shock from U.S. tariffs would be very different from the economic downturn caused by the COVID-19 pandemic.
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