{"id":770,"date":"2020-10-27T13:23:02","date_gmt":"2020-10-27T13:23:02","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/2020\/10\/27\/from-recession-to-recovery-a-bumpy-road-ahead-for-the-canadian-economy\/"},"modified":"2020-10-27T13:23:02","modified_gmt":"2020-10-27T13:23:02","slug":"from-recession-to-recovery-a-bumpy-road-ahead-for-the-canadian-economy","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/from-recession-to-recovery-a-bumpy-road-ahead-for-the-canadian-economy\/","title":{"rendered":"From Recession to Recovery \u2013 A Bumpy Road Ahead for the Canadian Economy"},"content":{"rendered":"<div id=\"mp4player\" style=\"display:none\"><div style=\"width: 1200px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-770-1\" width=\"1200\" height=\"360\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/thoughtleadership.rbc.com\/wp-content\/uploads\/20201007-the-economic-pulse-ep1-v6.mp4?_=1\" \/><a href=\"https:\/\/thoughtleadership.rbc.com\/wp-content\/uploads\/20201007-the-economic-pulse-ep1-v6.mp4\">https:\/\/thoughtleadership.rbc.com\/wp-content\/uploads\/20201007-the-economic-pulse-ep1-v6.mp4<\/a><\/video><\/div><\/div>\n<div id=\"youtubeplayer\" >\n<iframe loading=\"lazy\" id=\"videoframe\" src=\"https:\/\/www.youtube.com\/embed\/10Q7dr_wm_8\" width=\"100%\" height=\"315px\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe>\n<\/div>\n<p><script>\nvar youtube = document.getElementById(\"youtubeplayer\");\nvar mp4 = document.getElementById(\"mp4player\");\nfunction youtubePlayer() {\nvar youtubelink = document.getElementById(\"youtubelink\");\nvar htmllink = document.getElementById(\"htmllink\");\nyoutube.style.display = \"block\";\nmp4.style.display = \"none\";\nhtmllink.href = \"javascript:void(0);\";\nhtmllink.style.removeProperty('text-decoration');htmllink.style.removeProperty('color');\nyoutubelink.removeAttribute(\"href\");\nyoutubelink.style = \"text-decoration:none; color:black;\";\n}\nfunction html5Player() {\nvar youtubelink = document.getElementById(\"youtubelink\");\nvar htmllink = document.getElementById(\"htmllink\");\nyoutube.style.display = \"none\";\nmp4.style.display = \"block\";\nyoutubelink.href = \"javascript:void(0);\";\nyoutubelink.style.removeProperty('text-decoration');youtubelink.style.removeProperty('color');\nhtmllink.removeAttribute(\"href\");\nhtmllink.style = \"text-decoration:none; color:black;\";\n}\n<\/script><\/p>\n<p class=\"text-center\">\n<strong>Video Player:<\/strong> <a style=\"text-decoration:none; color:black;\" id=\"youtubelink\" onclick=\"youtubePlayer()\">YouTube<\/a> | <a id=\"htmllink\" href=\"javascript:void(0);\" onclick=\"html5Player()\">HTML5 Player<\/a>\n<\/p>\n<h4>RBC&#8217;s New Canadian Monthly Macroeconomic Series<\/h4>\n<hr>\n<p>This is the first edition of <i><a href=\"https:\/\/www.rbccm.com\/en\/insights\/story.page?dcr=templatedata\/article\/insights\/data\/2020\/10\/from_recession_to_recovery_economic_pulse\" rel=\"noopener noreferrer\" target=\"_blank\">The Economic Pulse<\/a><\/i> &#8211; a monthly series that will provide macroeconomic insights and analysis from RBC&#8217;s Chief Economist, Craig Wright and Deputy Chief Economist, Dawn Desjardins.<\/p>\n<hr>\n<p>In this edition, we focus on the Canadian economic outlook for Q4 and into 2021. A number of factors will likely result in a more modest growth rate compared to the strong bounce back we saw in Q3.<\/p>\n<p>\u00a0<\/p>\n<div class=\"gd-wrap\" style=\"border: 1px solid #bfd3e8;\">\n<div class=\"gd-needtoknow\" style=\"background: #e5edf6; padding: 20px 0px; text-align: center; margin-bottom: 25px;\">\n<div class=\"row\">\n<div class=\"col-xs-2 text-center\">\n<\/div>\n<div class=\"col-xs-9\">\n<h4 style=\"margin: 14px 0px; color: #0051a5; line-height: 24px; font-family: 'Roboto Light', 'Roboto', Arial, Verdana, sans-serif; font-size: 24px; font-weight: 300;\">Key Takeaways<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\" style=\"margin-bottom: 25px;\">\n<div class=\"col-xs-2 text-center\">\n<div style=\"background: #e5edf6; border-radius: 50%; width: 40px; color: #0051a5; line-height: 40px; font-size: 24px; display: inline-block;\">1<\/div>\n<\/div>\n<div class=\"col-xs-9\">\n<p>Canada faces a number of economic headwinds including the COVID-19 second wave, sluggish global economic growth and less accommodative policy.<\/p>\n<\/div>\n<\/div>\n<div class=\"row\" style=\"margin-bottom: 25px;\">\n<div class=\"col-xs-2 text-center\">\n<div style=\"background: #e5edf6; border-radius: 50%; width: 40px; color: #0051a5; line-height: 40px; font-size: 24px; display: inline-block;\">2<\/div>\n<\/div>\n<div class=\"col-xs-9\">\n<p>The Canadian consumer is the key to driving economic growth, but as the government rolls back household support, spending must be driven by job gains.<\/p>\n<\/div>\n<\/div>\n<div class=\"row\" style=\"margin-bottom: 25px;\">\n<div class=\"col-xs-2 text-center\">\n<div style=\"background: #e5edf6; border-radius: 50%; width: 40px; color: #0051a5; line-height: 40px; font-size: 24px; display: inline-block;\">3<\/div>\n<\/div>\n<div class=\"col-xs-9\">\n<p>We continue to keep a close eye on the labour market &#8211; we expect the unemployment rate to hit 8.5% by year end down from the 13.7% peak during the recession. This bodes well for consumer spending.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RBC Chief Economist, Craig Wright,  shares his take on the Canadian economic outlook for Q4 and into 2021.<\/p>\n","protected":false},"author":270,"featured_media":767,"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":[83,82,84],"tags":[11],"class_list":["post-770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-analysis","category-featured-analysis","category-insights","tag-economy"],"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>From Recession to Recovery \u2013 A Bumpy Road Ahead for the 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