Air turbulence: When can it become dangerous?
Flight turbulence like that encountered by a Singapore Airlines flight on Tuesday is extremely common, but there's one aspect of severe turbulence an aviation expert says can lead to serious injury.
Royal Bank of Canada economists are expecting a recession in the Canadian economy during the second and third quarters of the year, according to a report on Canada’s economic outlook that came out this week.
Their prediction puts a more specific timeline on RBC’s previously stated predictions for a 2023 recession, even though economic growth “has been more resilient than feared in the wake of aggressive interest rate increases” that began last year.
The economists said higher central bank interest rates will continue to impact the economy in 2023, weighing on household purchasing power and the housing market. At the same time, they said the global manufacturing outlook has softened and eased supply chain disruptions to help slow inflation.
“Against that backdrop, the most likely scenario is still that the U.S. and Canadian economies will both enter mild recessions over the middle-quarters of 2023,” the report said.
RBC said it expects any recession to “sit firmly on the ‘mild’ side of historical downturns,” but the economy won’t avoid a bumpy landing entirely.
It might be possible for consumer spending to be less sensitive to interest rates than expected, the report said, but that would keep inflation pressures sticky and lead to higher interest rates. Those higher rates would in turn cut into household purchasing power later on, “delaying but not preventing a downturn,” the report said.
The economists said consumer demand needs to soften for inflation to reach the central bank’s target two per cent rate.
“The alternative to the relatively mild ‘bumpy,’ economic downturn we expect in 2023 could still look more like a crash landing down the road if substantially higher interest rates, and a larger pullback in economic activity, is required to get inflation fully back under control,” the report said.
“No parts of the country will be sheltered from the stiffer economic headwinds,” RBC’s report said, predicting materially slower growth in all provinces except Newfoundland and Labrador, which is benefiting from accelerating offshore oil production.
The oil-producing provinces of Saskatchewan, Alberta and Newfoundland and Labrador are expected to come out “ahead of the pack” largely thanks to strong commodity prices.
Outlooks are worse in British Columbia, Ontario and Quebec, where higher household debt service costs and corrections in the housing markets are having a bigger economic impact.
Atlantic Canada, meanwhile, is growing faster than the national average as it benefits from high population growth and residential investment.
Flight turbulence like that encountered by a Singapore Airlines flight on Tuesday is extremely common, but there's one aspect of severe turbulence an aviation expert says can lead to serious injury.
British Columbia serial killer Robert Pickton sustained life-threatening injuries in a Quebec prison Sunday in what officials described as a 'major assault.'
New inflation data is 'welcome news' for consumers and an economist says it could signal the possibility for a interest rate cut as several core measures also continue to ease.
Pierre Poilievre's Conservatives returned to the House of Commons on Tuesday with a renewed call for Speaker Greg Fergus to resign, this time over 'very partisan' and 'inflammatory' language used to promote an upcoming event.
In his latest column for CTVNews.ca, former NDP leader Tom Mulcair argues that if there's an unofficial frontrunner in the eventual race to replace Justin Trudeau as Liberal leader, it has to be former Bank of Canada governor Mark Carney.
Donald Trump's reelection campaign called 'The Apprentice,' a film about the former U.S. president in the 1980s, 'pure fiction' and vowed legal action following its premiere at the Cannes Film Festival. But director Ali Abbasi is offering to privately screen the film for Trump.
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Nestle NESN.S will market a new, US$5 line of frozen pizzas and protein-enriched pastas in the United States which it says it designed specifically for people taking drugs such as Wegovy or Ozempic for weight loss.
Canada's annual inflation rate slowed to a three-year low of 2.7 per cent in April, matching expectations, and core measures continued to ease, data showed on Tuesday, likely boosting chances of a June interest rate cut.
Public libraries in Atlantic Canada are now lending a broader range of items.
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Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.