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Economic Viewpoint

Economic Crisis Tied to the COVID-19 Pandemic

April 30, 2020
François Dupuis, Vice-President and Chief Economist • Mathieu D’Anjou, Deputy Chief Economist • Hendrix Vachon, Senior Economist

Everything is going to be all right! This mantra that has now permeated our everyday life brings hope of a happy ending to this crisis. That life will get back to normal. That workers forced into unemployment will be earning their livelihood again. While this may seem like a rosy scenario to some, it is nonetheless likely! We could, in fact, see a swift economic rebound in the months following the crisis. After mass business closures, we should see many doors reopen in the following months, which will make a strong positive contribution to the economy. Our basic economic forecast scenario reflects this line of thought. Some businesses and activity sectors, however, might take longer to return to normal.