
Economist: Alberta economy outperforms Canada’s; country will likely avoid recession
RED DEER, AB – Pierre Cléroux, Chief Economist for the Business Development Bank of Canada (BDC), shared with Red Deerians on Friday, February 9, 2024, that not only is the Alberta economy outperforming the Canadian one, but he believes the country will avoid going into a recession.
At a Key Speaker Series Luncheon held by the Red Deer & District Chamber of Commerce at the Radisson Hotel, Cléroux said he believes the national economy will have a “soft landing” and attain financial stability.
CANADA
He says inflation has risen as high as eight per cent, harming businesses. As a result, the Bank of Canada (BOC) increased the interest rate to slow the economy and bring inflation down.