Despite monthly easing, activity remains elevated from 2021
Early indicators point to weakness in business confidence, housing market
All G7 countries are now at, or above, pre-pandemic output levels
The economic contraction meets one informal sign of recession
A strong labour market, excess savings and pent-up demand will shield many households
Ontario municipal workers’ pension fund had 6% net investment gain for year ending June 30
Mortgage growth slows as housing markets cool
Immigration and smaller households should boost demand and prevent a market spiral, a report says
However, food prices at grocery stores rose at the fastest pace since August 1981
Much of the cooldown has been attributed to rising interest rates