35% chance of another recession: National Bank CEO
Fears of the Canadian economy entering another recession resurfaced after the economy contracted in the second quarter. Louis Vachon, President and CEO at National Bank Financial Group, talks to BNN about the probability of Canada going into recession.
“We’re still in the camp of a 30 to 35 percent chance of a recession,” he says. “A couple more weeks like last week and the odds will go up, but for now we’re in the camp for low to moderate growth for 2012, but no recession -- so far.”