Recession 2024 Canada. Aweak jobs report in america has raised fears that the world’s largest economy is heading for recession. But unemployment is rising, consumer spending is expected to slow further and the bank of canada has a laundry list of things it's worried about.

Tuan nguyen, economist with rsm canada, said in a note on friday that the economic strength in the first two quarters of the year will push the predicted recession to the latter half of 2023. Canada may be likely to avoid a recession, but we won’t start recovering until the second half of 2024, according to deloitte.