While half of Canadians feel personally prepared if the Canadian economy enters a recession, there is clear division, with the other half of the population not feeling prepared.

January 4, 2023

Canadians have continued to experience rising prices, inflation and scarcity of goods and services over the past year. Residents have indicated that their purchasing behaviours have recently changed and our research has shown that a majority are worried about some of their financial responsibilities.

As economists are predicting the likelihood of the Canadian economy heading into a recession, we asked residents how prepared they would feel if the economy were to enter an economic recession. Results show that just over one-half of Canadians (55%) indicate that they feel generally or completely prepared, while just under one-half (45%) report they do not feel prepared.

Across demographics, males, older Canadians (55+ years) and those with household incomes of $100k or more are more likely to report feeling prepared to face an economic recession compared to their respective counterparts. Across regions, those in Quebec indicate feeling more prepared than the rest of the country.

Results are from a survey conducted in partnership between Narrative Research and the Logit Group. The survey was conducted online between December 8 and 10, 2022 with 2,237 Canadians, 18 years of age or older from the Logit Group’s Canadian Omnibus. Data were weighted based on the 2016 Census, by gender, age, and region to reflect actual population distribution. As a non-probability sample (i.e., a panel sample where residents have joined a panel to share their opinions), and in accordance with CRIC Public Opinion Research Standards, a margin of error is not applied.

The question asked was:
Some believe that the Canadians economy is heading into a recession. How well prepared do you personally feel to face an economic recession?

Completely prepared

Generally prepared

Not very prepared

Not at all prepared

For more information, please contact:

Margaret Brigley, CEO & Partner – 902-493-3830, mbrigley@narrativeresearch.ca;


Sam Pisani, Managing Partner, Logit Group – 416.629.4116, sam.pisani@logitgroup.com

Narrative Research (www.narrativeresearch.ca), is a leading public opinion and market research company headquartered in Canada. The company is certified as a WBE (Women Business Enterprise). As a non-partisan, 100% Canadian-owned research company, Narrative Research is dedicated to providing clients with state-of-the-art research and strategic consulting services. 

The Logit Group (https://logitgroup.com/) is a leading North American data collection and market research execution company headquartered in Toronto, conducting large-scale projects for a variety of well-known research agencies and brands. Logit employs industry-best technologies across an array of methodologies, and is independent, experienced and quality-oriented. 

Follow us on Twitter at @EveryNarrative and @LogitGroup

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