Ford government warned not to panic over recession fears
Economists are urging Ontario’s Progressive Conservative authorities to keep away from hitting the panic button as rising inflation will increase the chance of an financial recession. The annual inflation price shot as much as 7.7 per cent in Might — the best stage in additional than 4 many years — because of a steep rise in fuel costs, in line with Statistics Canada, resulting in new issues that Canada’s economic system may very well be headed right into a recession. Learn extra: Hovering meals inflation has 72% of households with youngsters frightened, Ipsos ballot finds “We’re speaking minor recession,” mentioned Peter Dungan, an economist with the College of Toronto’s Rotman Faculty of Administration. “Ontario goes to really feel it considerably … Read more