TORONTO, Oct. 15, 2020 /CNW/ - Most of Canada's provinces will experience record output contractions this year because of the COVID-19 pandemic, with many not expected to recoup their losses for several years, says Scotiabank Economics in its Q4 Provincial Outlook. The report was released this morning, on the heels of Scotiabank Economics' latest Forecast Tables, published Wednesday.
"The strength of the economic rebound since the peak lockdown period earlier this year has surprised on the upside," said Marc Desormeaux, Senior Economist at Scotiabank. "However, with the arrival of a second wave and new lockdown measures to curb the virus' spread, COVID-19 continues to represent the primary forecast risk."
Highlights of Scotiabank's Provincial Outlook include:
Read Scotiabank's full Provincial Outlook online here.
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