RE:RE:RE:RE:RE:Target CEO says the consumer remains resilient I disagree Flamingo. In Canada the hard landing is happening right now. I'm very surprised you don't even see it. It takes at least a year to announce a recession after all the revisions are in place. The unemployment rate is already 1.5% higher than its lows and it typically reaches an average of 3% from trough to peak. In other words, Canada is already halfway there. The Sahm rule triggers a recession when the 3 month average unemployment rate is 50 bps above its lows over a 12 month period and Canada has already triggered this rule.
In terms of gdp per capita ( the me-recession) we've been in one for 2 consecutive years.