According to a report by Jin Ten Data, Royce Mendes, an economist at Desjardins in Canada, stated that the Canadian economy will contract in the second quarter, with consecutive contractions in April and May. The last time there was a continuous monthly decline before the pandemic was in 2017. Desjardins' tracking of second-quarter GDP shows a slight contraction, and it is expected that the Bank of Canada will cut interest rates next month.