OTTAWA — A pair of reports from the Bank of Canada pointed to declining business and consumer sentiment in the first quarter and increased worries about a recession even before the latest round of tariffs announced by U.S. President Donald Trump last week.
The central bank’s business outlook survey said Monday that 32 per cent of firms are now planning with the assumption that a recession will occur in Canada over the coming year, up from 15 per cent over the past two quarters.
“Uncertainty surrounding financial, economic and political conditions remains the top concerns for firms and rose sharply this quarter,” the report said.
BMO senior economist
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