Survey of forecasters: July 2020
The Conference Board of Canada
July 24, 2020
This quarterly survey reflects the opinions of Canada's top forecasting organizations and their outlook for the Canadian economy.
- Real GDP will plummet by 6.6 per cent this year due to the devastating effects of the COVID-19 pandemic. However, activity will rebound next year, with the economy expected to expand by 5.7 per cent.
- Consumer and investment spending, as well as exports, will contract this year before recovering in 2021.
- The loonie will trade below the US$0.75 mark through the near term.