Canadian GDP takes a big hit in April due to COVID

Mining, quarrying and oil and gas extraction decreased 9.4 per cent in April, as all subsectors were down

Canadian GDP takes a big hit in April due to COVIDReal gross domestic product (GDP) in Canada dropped 11.6 per cent  in April, following a 7.5 per cent decline in March as April marked the first full month of measures put in place to slow the spread of COVID-19, according to a new report released Tuesday by Statistics Canada. The federal agency said all 20…

COVID has taken a toll on all aspects of Canadian economy

From February to May, total employment has fallen by over 2.7 million, as the unemployment rate rose to a record high 13.7 per cent

COVID has taken a toll on all aspects of Canadian economyThe magnitude of change in the Canadian economy since the onset of COVID-19 has been profound, says a new report released Wednesday by Statistics Canada. From February to May, total employment has fallen by over 2.7 million, as the unemployment rate rose to a record high 13.7 per cent, it reported. Also a flash estimate…

Natural resources sector sees decline in GDP in Q1

Real GDP of the energy subsector edged down 0.3 per cent, largely because of a 3.9 per cent drop in refined petroleum products

Natural resources sector sees decline in GDP in Q1Real gross domestic product (GDP) of the natural resources sector edged down 0.4 per cent in the first quarter, the third consecutive quarterly decline, reported Statistics Canada on Wednesday. “The drop in the natural resources sector was modest, compared with the sharp decline in the economy-wide real GDP (-2.1 per cent) owing to far-reaching restrictions…

Canadian economy expected to contract by 8.2%

Conference Board of Canada report said there will be an economic rebound of 6.7 per cent in 2021 and 4.8 per cent in 2022

Canadian economy expected to contract by 8.2%An 8.2 per cent decline in the Canadian economy this year will mark the worst annual contraction on record, says the Conference Board of Canada in a report released on Monday. But the report said there will be an economic rebound of 6.7 per cent in 2021 and 4.8 per cent in 2022. “This rebound is…
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