The Globe and Mail reports in its Tuesday edition that a Bank of Canada survey points to declining business and consumer sentiment in the first quarter and increased worries about a recession even before the latest round of tariffs announced by U.S. President Donald Trump last week. A Canadian Press dispatch to The Globe says the central bank's business outlook survey said Monday that 32 per cent of companies are now planning with the assumption that a recession will occur in Canada over the coming year, up from 15 per cent over the past two quarters. Meanwhile, BMO economist Shelly Kaushik said that even though tariffs had not yet been implemented as of the survey period, some companies were already cutting investment plans. "Tariffs dominated business and consumer sentiment in the first quarter, with plenty of uncertainty about whether they would be levied, at what rate, and for how long," Ms. Kaushik wrote in a report. According to the BoC survey, a smaller proportion of businesses expected sales growth to improve over the coming year at 43 per cent compared with 53 per cent in the fourth quarter of 2024, while plans for investment in machine equipment declined -- 31 per cent compared with 48 per cent in Q4.