Is Canada Heading For A Recession 2024. Canada's economy is showing clear signs of a slowdown, as after shrinking in june, the total value of all goods and services sold was essentially unchanged in july. Canada looks set to dodge a recession despite the ongoing downward pressure from higher interest rates, deloitte canada said in its economic outlook report.

Economists say we may already be in one, but things could start looking up partway through 2024. Although the economy has managed to avoid a recession, it’s seeing only very modest growth, which.