Survey of forecasters: April 2020

Forecasters surveyed by Signal49 Research in the spring have, not surprisingly, dramatically changed their near-term projections for the Canadian economy. Real GDP is expected to contract by 4.0 per cent this year, down from a gain of 1.7 per cent expected in the winter, prior to the COVID-19 outbreak. In 2021, a 4.9 per cent recovery is anticipated as the virus’s aftermath fades.