CANADIAN GDP PLUNGES IN APRIL WITH MODEST UPTICK IN MAY
The pandemic shutdown put every sector of the economy into a medically induced coma, so it was no surprise that the first full month of lockdown would be ugly. Indeed, consensus estimates were worse than the 11.6% drop in economic activity reported this morning by Statistics Canada (see chart below). April’s contraction followed the March decline of 7.5%. All 20 industrial sectors of the economy were depressed, producing the largest monthly slump since the series started in 1961.
Original Article Source Credits: Dominion Lending , https://dominionlending.ca/
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Original Article Posted on : 30 JUN 2020
Link to Original Article: https://dominionlending.ca/news/chief-economist/canadian-gdp-plunges-in-april-with-modest-uptick-in-may/