GDP fell by greatest quantity ever in April as COVID-19 locked down Canada’s economic system | CBC Information

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Canada’s economic system shrank by 11.6 per cent in April, the most important plunge on document, following March’s contraction of  7.5 per cent as COVID-19 lockdowns started.

Statistics Canada reported Tuesday that every one 20 classes the information company tracks have been decrease, and so they added as much as the most important month-to-month plunge since record-keeping started in 1961.

April’s plunge means the economic system on the finish of April had misplaced virtually one fifth of the output it produced on the finish of February.

Whereas bleak, the numbers did supply a modest vivid spot, as preliminary information prompt that April was the low level, with GDP for Might projecting a slight uptick of three per cent.



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