The Economic Cycle: What Goes Down Must Come Up

Canada’s economic growth has fired on all cylinders following pandemic shutdowns, but a historic labour squeeze, soaring food and energy prices, and rising interest rates are now starting to close in. These pressures will likely push the economy into a moderate recession in 2023. But have no fear, Carla is here to explain the economic cycle and how a downturn eventually shifts to an upturn. This week, Carla focuses on the term "recession"; what it means, what causes it, and what ends it. 
 
Today’s topics include: 
 

The definition of GDP and how it is used to assess the size and state of a country's economy 

The factors that come into play when understanding how we end up in a recession 

Things that push us into a recession cycle   

The meaning and impact of inflation on the economy 

Please make sure to rate, review, and follow us for more financial tips, tricks, and tactics. Tandia Financial Credit Union is here to help. Got Feedback? Want to learn more? Head to tandia.com for an experience as unique as you are.