In a recent interview with BNN Bloomberg, Alberta Central Chief Economist spoke about the latest insolvency data and what it means for Canada’s economy.
Insolvencies dropped during the pandemic as people saved money, but he noted that the trend is now being “reversed completely,” with insolvencies up compared with 2019 – and the rise has been much faster than expected.
“What’s starting to be concerning is the trend,” St-Arnaud said. “Insolvencies are very much a lagging indicator of the economic cycle. Usually they tend to peak 12 months after the start of a recession. We still haven’t started a recession,” he continued. “The question is, when are they going to peak and how bad is it going to be?”
His most recent Economic Commentary report on insolvencies has also been featured on several online news outlets, including TNC News and others.
He was also quoted over the weekend speaking on the new clean-fuel regulations that took effect, including in the Calgary Herald and others.
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