CANADIAN Q2 GDP GROWTH PLUNGE–REBOUNDS SINCE APRIL

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Canadian real GDP plunged 11.5% in the second quarter, or -38.7% at an annualized rate, the worst quarterly decline on record (see chart below). This followed an 8.2% plunge in Q1. The worst of the contraction occurred early in the quarter as the lockdown in March and April wreaked havoc on activity. Since then, the economy has shown surprisingly strong signs of recovery.

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Original Article Source Credits:   Dominion Lending Centres  , https://dominionlending.ca/

Article Written By:  DR. SHERRY COOPER

Original Article Posted on:  28 AUG 2020

Link to Original Article:  https://dominionlending.ca/news/canadian-q2-gdp-growth-plunge-rebounds-since-april/

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Based in Edmonton, Stefan Cherwoniak is a mortgage broker at Quickfire Mortgage Solutions, providing his services across Sherwood Park, St. Albert, Edmonton & the surrounding areas.