What form will Canada’s financial restoration take?
Economists say the Canadian financial system is on monitor for a 5.5% contraction for 2020 – the worst yr for the reason that Nice Despair. With COVID-19 cases on the rise, president-elect Joe Biden quickly on the helm within the U.S., and no clear fiscal guardrails to information how the Canadian authorities will finally scale back its huge stimulus spending, what’s Canada’s financial outlook for 2021?
The gloom is lifting, with vaccines now underway; however expectations for a return to development stay colored by a number of uncertainties, each right here and overseas.
David Parkinson, the Globe’s economics columnist, and Frances Donald, Managing Director, International Chief Economist & Head of the Macroeconomic Technique Crew at Manulife Funding Administration, mentioned the most recent developments and the prospects for 2021 and past.