{"id":387,"date":"2020-04-09T13:55:46","date_gmt":"2020-04-09T13:55:46","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/?p=387"},"modified":"2025-11-11T15:13:36","modified_gmt":"2025-11-11T15:13:36","slug":"a-downturn-like-no-other","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/financial-markets-monthly\/a-downturn-like-no-other\/","title":{"rendered":"A downturn like no other"},"content":{"rendered":"<p><b><\/b><strong>Featuring Craig Wright, RBC Chief Economist<\/strong><b><\/b><\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"166\" scrolling=\"no\" frameborder=\"no\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https%3A\/\/api.soundcloud.com\/tracks\/794491789&amp;color=%23050505&amp;auto_play=false&amp;hide_related=false&amp;show_comments=false&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true\"><\/iframe><\/p>\n<p>Listen on <a href=\"https:\/\/link.chtbl.com\/X3GlXdsa?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Apple Podcasts<\/a>, <a href=\"https:\/\/link.chtbl.com\/ni4osfhw?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Google Podcasts<\/a>, <a href=\"https:\/\/link.chtbl.com\/6HGF4KLN?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Spotify<\/a> or <a href=\"https:\/\/link.chtbl.com\/jNg56DDC?sid=article_page\" rel=\"noopener noreferrer\" target=\"_blank\">Soundcloud<\/a>.<\/p>\n<hr>\n<p><p>This may be the darkest quarter on record for the Canadian economy. Our consumer-driven economy could make a rebuild even tougher, as we all tend to our wounds and avoid public places for months to come. As GDP declines and unemployment reaches unprecedented levels this quarter, it may be hard to spot silver linings. But come 2021, low interest rates and pent-up demand should get growth headed back to normal. RBC&#8217;s Chief Economist Craig Wright joins our podcast to discuss his latest macro forecast.<\/p>\n<\/p>\n<p><a href=\"https:\/\/thoughtleadership.rbc.com\/topics\/the-10-minute-take\/\" target=\"\" rel=\"noopener noreferrer\" data-dig-id=\"TNL_036\" data-dig-category=\"TNL Economics\" data-dig-action=\"mid-funnel click\" data-dig-label=\"10-Minute Take Landing Page\">Click here<\/a> to listen to more The 10-Minute-Take podcast episodes.<\/p>\n<p>\u00a0<\/p>\n<hr>\n<p><p><i>The 10-Minute Take podcast provides insights from RBC economists and market experts on events unfolding around the globe.<\/i><\/p>\n<\/p>\n<p><p><i>\u2021 For relevant conflicts disclosure, please visit our <a href=\"https:\/\/www.rbccm.com\/GLDisclosure\/PublicWeb\/DisclosureLookup.aspx?entityId=1\" rel=\"noopener noreferrer\" target=\"_blank\"><i>Disclosure Lookup Tool.<\/i><\/a><\/i><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RBC Economics estimates Canada&#8217;s real GDP will decline more than 30% in this quarter. Chief Economist, Craig Wright,  joins to discuss his latest macro forecast.<\/p>\n","protected":false},"author":234,"featured_media":372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[48],"tags":[],"rbc_econ_content_type":[],"class_list":["post-387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-markets-monthly"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A downturn like no other - RBC Economics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/economics\/financial-markets-monthly\/a-downturn-like-no-other\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A downturn like no other\" \/>\n<meta property=\"og:description\" content=\"RBC Economics estimates Canada&#039;s real GDP will decline more than 30% in this quarter. 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