Canada’s gross domestic product (GDP) shrank 38.7% in the second quarter of 2020, the nation’s biggest drop on record. David Akin looks at how the pandemic is to blame, and the signs a rapid recovery is on the way.
- Canadian economy grew by 3% in July amid coronavirus: StatsCan
- Household debt ratio drops to 158% of disposable income, down from 175%
- Canada’s GDP dropped at annualized rate of 38.7% between April and June: StatCan