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What is the Canadian Economic Outlook for Spring 2020?

What is the Canadian Economic Outlook for Spring 2020?
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Canadian Economy is also negatively affected from COVID-19 and it has caused the real GDP growth rate to be .3% only for the given time period. It is due to the expected slowing of economic activity. The unemployment rate for the given period is expected to be 6% and it is not expected to increase, due to already tight labor market and impact of COVID-19 to be considered as temporary. It means that firms will hold on to their employees and unemployment rate is not expected to rise. It is also supported by the fact that Bank of Canada has recently reduced the rates by 50 basis points and it is up to .75%. It means that consumption and investment spending will increase in the given period so that the negative impact of COVID-19 is offset in the Canadian economy.

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