April 27, 2023
We wish we had better news, but the economic outlook from Tulsa to Toronto and Quebec to Los Angeles is nothing but bleak, according to an exclusive GZERO/MARU poll.
“There really isn’t much good news here on either side of the border,” says Maru Executive VP John Wright. “Increased interest rates combined with slow-to-fall inflation on essentials like groceries have put consumer-citizens in a dark cloud with not really much of a silver lining.”
The job market remains strong, any talk of the R-word (recession) is usually proceeded with a “mild.” But Americans and Canadians are feeling the squeeze. Both PM Justin Trudeau and US President Joe Biden are facing reelection, and they know that their fates are tied to how their economies perform.
At the moment, “the economy doesn’t favor either of the incumbent leaders,” Wright says. “When that changes, so will the likely fortunes for all.”
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