Feeling pinched despite a strong economy? Welcome to the ‘vibecession’ [Video]

Picture this: groceries feel more expensive than ever. You can’t afford a house but rent is soaring, too. Saving for retirement feels like a pipe dream.

But despite the bleak outlook, the economy is actually doing alright. The inflation rate is hovering around two per cent — in line with the Bank of Canada’s target. Economic growth is somewhat low — at one per cent in the third quarter — but it’s still above recession territory.

Welcome to the “vibecession,” a term that refers to a disconnect between economic data and how consumers feel.

The word got a boost this week after Deputy Prime Minister Chrystia Freeland used it when talking about the federal government’s GST holiday. 

“One of the positive impacts of this measure is to help Canadians get past that vibecession. Because how Canadians feel really does have a real economic impact,” Freeland said at a news conference on Nov. 25.

The movewill pause tax collection on a range …