This year should mark a return to the “Great Moderation” of slow but steady economic growth and low inflation that characterized the G10 largest economies prior to the pandemic.
But continued inflation, though considerably lower as the year progresses, and high debt-servicing costs could trimby almost $3,000 this year, warns RBC Economics. For that reason, forecasters expect a mild and brief recession early this year, with a return to GDP growth in the second half.
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