BMO poll says 63% express recession concerns, 48% believe economy will weaken

Supporters display flags near the Mar-a-Lago estate of President-elect Donald Trump, in Palm Beach, Fla. Nov. 12, 2024. THE CANADIAN PRESS/AP-/Julia Demaree Nikhinson

TORONTO — A new report by BMO says 63 per cent of Canadians surveyed expressed concerns about the potential for a recession in the next 12 months.

The worries come as tariff threats loom over Canadian exports to the United States.

The online poll also found 48 per cent of those surveyed believed the economy will weaken over the next 12 months, while 19 per cent expect it to improve.

The report noted that rising prices and the cost of living continue to be top concerns for Canadians.

It says 67 per cent of those surveyed said inflation is having a negative impact on their current financial situation.

The online survey of 1,500 adult Canadians was conducted by Pollara from Nov. 8 to Nov. 18, 2024.

The poll does not include a margin of error because online surveys are not considered truly random samples.

This report by The Canadian Press was first published Jan. 20, 2025.