The Canadian Federation of Independent Business is forecasting a recession in Canada this year.
A new report from CFIB shows it’s forecasting that growth declined 0.8 percent in the second quarter and will contract by a further 0.8 percent in the third quarter.
The group says an analysis of the impact of tariffs on supply chains highlights that most firms are anticipating long-term disruptions.
CFIB chief economist Simon Gaudreault says the uncertain trade situation is impacting business confidence, resulting in paused or cancelled investments.
Private investment is expected to fall 13 percent in the second quarter and continue to decline by 6.9 percent in the third quarter….