Nine out of 10 Canadians think a 2023 recession is at least ‘somewhat likely’: Nanos poll
Nine out of 10 Canadians consider there might be a recession in 2023, in keeping with a brand new nationwide survey, with 4 out of 10 calling it “likely.”
A brand new survey performed by Nanos Research on behalf of CTV News requested greater than 1,000 Canadians in the event that they believed it was doubtless Canada would have a recession subsequent yr.
The overwhelming majority answered that it was “somewhat likely” (44 per cent) or “doubtless” (42 per cent).
Less than one per cent believed a recession subsequent yr was “not likely,” whereas round seven per cent stated it was “somewhat not likely” and 6 per cent have been not sure.
This survey comes after a Royal Bank of Canada report predicted in October that Canada might be headed for a recession as early as the primary quarter of 2023.
That similar report discovered that the common Canadian family may lose $3,000 of shopping for energy subsequent yr. A myriad of things are contributing to this menace of recession, consultants say, with cooling housing markets and unemployment ranges displaying the weakening of our financial system.
High inflation has been a recurring problem in 2022, with grocery costs climbing at a tempo not seen in a long time inside the previous few months, in keeping with Statistics Canada.
HOW THE CANADIAN OUTLOOK VARIES
Although a powerful majority of Canadians are predicting a possible recession, in keeping with this new survey, these outcomes weren’t even throughout the board.
Men have been barely extra prone to reply {that a} recession was considerably doubtless/doubtless, at 88 per cent in comparison with 85 per cent of ladies, though the identical 7.5 per cent of women and men believed it was considerably unlikely/doubtless.
When cut up into age brackets, these aged 35 to 54 have been the almost definitely to consider {that a} recession was coming in 2023, with 90.4 per cent answering doubtless/considerably doubtless, in comparison with 88.4 per cent of these aged 18 to 34 years, and 82.6 per cent of these aged 55 plus.
The distinction was extra stark when it got here to the share of respondents who believed a recession was considerably unlikely/unlikely, with the chances growing because the ages of respondents did. Just 2.7 per cent of 18- to 34-year-olds thought a 2023 recession was at the least considerably unlikely, in comparison with 6.5 per cent of 35- to 54-year-olds and 11.3 per cent of these aged 55 plus.
The charges of those that answered {that a} recession was at the least considerably doubtless have been comparatively even throughout the provinces, with 87 to 88 per cent of the Atlantic provinces, Quebec and Ontario selecting this feature.
Around 84 per cent of respondents from the Prairies and 84.9 per cent of respondents from British Columbia answered that they believed a recession in 2023 was at the least considerably doubtless.
METHODOLOGY
Nanos performed an RDD twin body (land- and cell-lines) hybrid phone and on-line random survey of 1025 Canadians, 18 years of age or older, between Nov. 27 and 29, 2022, as a part of an omnibus survey. Participants have been randomly recruited by phone utilizing reside brokers and administered a survey on-line. The pattern included each land- and cell-lines throughout Canada. The outcomes have been statistically checked and weighted by age and gender utilizing the most recent Census info and the pattern is geographically stratified to be consultant of Canada.
Individuals randomly known as utilizing random digit dialing with a most of 5 name backs.
The margin of error for this survey is ±3.1 proportion factors, 19 occasions out of 20.
This research was commissioned by CTV News and the analysis was performed by Nanos Research.
Note: Charts might not add as much as 100 because of rounding.
