Majority of Canadians Say the Country Already in Recession or Drawing Close: Poll

The Toronto Stock Exchange building on Bay Street is shown in a file photo. The Canadian Press/Chris Young

Almost four in five Canadians say the country is already in recession or drawing close to one, while more than half say they have cut down on spending over the past month, a new survey finds.

The Maru Public Opinion poll shows 55 percent of Canadians believe the country is now in a recession, while 23 percent believe an economic downturn will hit in the next three months, adding up to a total of 78 percent of respondents reporting recession concerns.