Despite Canada’s economic resilience in the face of rising interest rates over recent months, it’s still important to be prepared in case a recession arises. A recession is announced once an economy undergoes two consecutive quarters of negative gross domestic product (GDP). In addition to a decline in GDP, employment and spending levels typically fall as well, putting pressure on small businesses and often resulting in job loss. Below, I’ll share some practical tips and actionable advice to help you and your family better weather any economic storms that may come. IS CANADA HEADING FOR A RECESSION? The last official recession in Canada occurred during the COVID-19 pandemic,
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