Economy and Markets

Equity market rally faded amid concerns about a resurgence in COVID-19 infections. The path forward remains cloudy as restrictions continue.

RBC Economics projects the world economy to contract by 3% this year in its latest macroeconomic outlook.

With some progress in 'flattening the curve,' many countries began to gradually reopen their economies. Early May indicators point to some pickup in activity.

In its updated macroeconomic outlook, RBC Economics expects Q2 GDP to contract at a 40% annualized rate.

Economically-damaging containment efforts have helped ‘flatten the curve,’ but the path back to normalcy is likely to be slow and uneven.

In its latest macroeconomic outlook, RBC Economics calls for real GDP to contract at a greater than 30% annualized pace in the second quarter.

Following record declines in the second quarter, RBC Economics projects a sizeable rebound in GDP over the second half of the year.

As the economy has already entered a deep downturn, RBC Economics expects it will rival the worst year of the Great Recession.