Alberta’s economy projected to shrink by 6.8 per cent this year: report
LETHBRIDGE, AB – It may not come as a surprise to anyone at this point, but the COVID-19 pandemic will have long-lasting impacts on the Canadian economy.
According to a new report from the Conference Board of Canada, the national real GDP is expected to decline by 4.3 per cent in 2020.
In just the second quarter, the group estimates that the economy will fall by up to 25 per cent.
“From a historical perspective, this is an off-the-charts decline, with the drop nearly three times worse than any other in modern statistics that date back to 1961,” reads the report from the Conference Board.