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A recession is coming, a growing number of economists warn as Canada’s economy is battered by the unprecedented slam of the coronavirus, financial market chaos and crashing oil prices.

Economists for RBC, CIBC, Bank of America and Oxford Economics now say that Canada will experience a technical recession in 2020 (two consecutive quarters of contraction).

“Hit by both the virus and oil markets, Canada and the U.S. are likely to join a growing list of countries facing an economic contraction,” CIBC economist Avery Shenfeld and Benjamin Tal, said in a note Friday.

Oxford says Canada’s fragile economy is already shrinking (it predicts 0.3% GDP decline in Q1), as the impact of the virus and oil crash compound earlier problems from rail blockades, Ontario teacher strikes and severe weather in some areas of the country.

In the second quarter it sees a 1.4% decline. “The COVID-19 pandemic is spreading globally like wildfire, and actions to contain the outbreak such as lockdowns and travel bans will severely impact the economy,” wrote Oxford economist Tony Stillo.