A recent report suggests the Canadian economy is struggling to gain momentum despite significant interest rate cuts by the Bank of Canada. Economist David Rosenberg warns of a potential recession, citing weak housing and manufacturing sectors. According to Rosenberg Research, home prices are down about 2% year-over-year, and residential construction expenditures remain stagnant.
While the Bank of Canada anticipates flat growth, the report projects a contraction in the fourth quarter. The CMBA Ontario expressed concerns that holding rates steady could further slow sales and construction. Deloitte Canada has also lowered its GDP forecast for 2026. For a deeper dive into the economic analysis and its potential impact on the GTA real estate market, read the full article on mpamag.com.
Source: Read the original article
