The DLI’s Decline Has Slowed, but Quebec Still Won’t Avoid a Recession

The DLI fell 0.5% in March, far less than in previous months. Even though the decline has slowed, the DLI remains in negative territory and dark clouds are gathering on a number of fronts. We’re therefore still forecasting a moderate recession in the second half of the year. Real GDP was flat in February, a sign that Quebec’s economy has begun to weaken—unlike Canada’s economy, which started the year off strong.