Forward Guidance: Capturing a Turning Point

<p>This week’s data gave us a better understanding of the scale of economic contraction in April when COVID-19 containment measures were at their height. StatCan’s “nowcast” of April GDP showed an 11% month-over-month decline on top of March’s 7.2% drop (slightly better than that month’s -9% nowcast). The cumulative two month slowdown is about 3.5 […]</p>
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