Share this page!

The Globe and Mail Profile picture
Twitter logo
Aug 3 • 6 tweets • 4 min read
🎙️ Is Canada heading into a recession?

New GDP numbers in the U.S. have set off the latest set of worries about whether we’re heading for a recession, even if Canada’s numbers aren’t that bad.

tgam.ca/3PZi8If Image
🎙️ On today's episode of #TheDecibel, guest host @SherrillS speaks with @ParkinsonGlobe about how recessions are defined, which economic indicators we should be watching and just how worried people should be.

Listen here:
pod.link/thedecibel
🎙️ @ParkinsonGlobe does not seem to think we're headed into a recession. He says Canada's economy is growing unlike the US. We also have a strong labour market.

But some signs of worry are inflation and the Bank of Canada's response to it.

pod.link/thedecibel
🔊 @ParkinsonGlobe: "We've created more than 400,000 jobs since January. There is no definition of a recession that includes a labor market that's booming."

pod.link/thedecibel
🔊 @ParkinsonGlobe: "I am not worried about the possibility that we're already in [a recession]. I am certain that we're not... But I am concerned that we've gone into some territory, especially with inflation [and] the central bank's response."

pod.link/thedecibel
🎙️ Listen to the full episode of #TheDecibel here:
pod.link/thedecibel

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with The Globe and Mail

The Globe and Mail Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @globeandmail

The Globe and Mail Profile picture
Aug 4
Today the United States declared monkeypox a national public health emergency as the number of cases climbs worldwide.

In Canada, as of Aug. 3, there are almost 900 cases of monkeypox, according to the Public Health Agency of Canada.
bit.ly/3JxNJhD Image
Today on The Decibel, guest host @SherrillS speaks with The Globe’s health reporter @wencyleung about what we know about monkeypox so far – including the severity of the disease, who it’s affecting and the availability of vaccines.
bit.ly/3JxNJhD
How does monkeypox spread?
It's mostly spread through intimate contact, whether that's respiratory secretions like little tiny particles of spit or through direct contact with lesions. It can also spread through contaminated bedding or clothing.
bit.ly/3JxNJhD
Read 5 tweets
The Globe and Mail Profile picture
Aug 4
Canada’s health care system requires major reform and possibly radical solutions.

Here are 10 ways to fix the system right now:
tgam.ca/3oUHpaz An illustration of two heal...
In Ontario, about 25 hospitals had to close parts of their operations over the long weekend, including ERs, because of staff shortages. In response, Premier Doug Ford vowed to fast-track accreditation of foreign-trained nurses to ease the hospital crisis.
tgam.ca/3d0ERVz
In Alberta, the opposition NDP say it is especially troubling that Edmonton hospitals are putting patients in hallways given that this is a traditionally slow time of the year.
tgam.ca/3OZPkxX
Read 4 tweets
The Globe and Mail Profile picture
Aug 4
The U.S. Department of Commerce is lowering tariffs against most Canadian softwood producers by half, but the long-running trade dispute lingers as Canada plans to appeal the decision to maintain punitive duty rates.

@brentcjang reports: tgam.ca/3zVB7h4
The Commerce Department had proposed a preliminary duty rate of 11.64% compared with the current 17.91%, but has now reduced that amount further with a final rate of 8.59%. tgam.ca/3zVB7h4 Image
The 2006 Canada-U.S. softwood agreement expired in October, 2015, with no replacement. Canadian producers have been paying U.S. lumber duties since April, 2017. The new rates are expected to take effect on Aug. 10 or soon after. tgam.ca/3zVB7h4 Image
Read 4 tweets
The Globe and Mail Profile picture
Aug 4
As Canada's housing market continues to cool amid interest rates and inflation, here's a roundup of the latest real estate headlines ⬇️

▪️ Why some homeowners are turning their homes into rentals
▪️ Vancouver/Toronto housing numbers are in
▪️ Is it better to buy or sell first?
Interest rates and inflation have made it routine for properties to sit for weeks or months, pushing sellers to make tough decisions.

Instead, some homeowners are cancelling listings and turning homes into rentals.

theglobeandmail.com/business/artic…
Toronto developers are expected to delay the launch of 10,000 condo units this year, as preconstruction condo sales plunge.

theglobeandmail.com/business/artic…
Read 6 tweets
The Globe and Mail Profile picture
Aug 4
Toronto and Vancouver real estate markets tumbled further in July – with sales and home prices declining for another month – as getting mortgages becomes more difficult.

@rachyounglai reports:
tgam.ca/3JrPgG9
In the Toronto region, home resales dropped 47% in July compared with the same month last year, and were down 7.3% from June, according to the Toronto Regional Real Estate Board.

tgam.ca/3JrPgG9
In the Vancouver area, resales declined 43% year over year and were 23% lower than June, according to the Real Estate Board of Greater Vancouver.

tgam.ca/3JrPgG9 Image
Read 6 tweets
The Globe and Mail Profile picture
Aug 4
🚤 Once an American recreational haven, Lake Mead's vanishing waters now herald serious environmental and economic problems, @nvanderklippe reports

tgam.ca/3OZziE2
🚤 For the better part of a century, Lake Mead was among the best-loved unnatural wonders of the U.S., a sprawling Colorado River reservoir behind the Hoover Dam that became the country’s first national recreation area, drawing boaters, swimmers and picnickers by the millions.
🚤 Now, with its shores laid bare by a lengthy drought, Lake Mead’s giddy pleasures are giving way to grisly discoveries, as a desert playground becomes a showcase for troubling new realities.
tgam.ca/3OZziE2 Image
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(