July 31, 2020

Canada’s economy rebounds 4.5% in May

Ottawa (AFP) – The Canadian economy rebounded in May, posting growth of 4.5 percent as activity bounced back following two months of sharp declines due to the coronavirus pandemic, the government said Friday. The recovery is likely to continue in June, according to Statistics Canada, which currently forecasts a 5.0 percent monthly expansion.The virus crisis and measures to control its spread caused the Canadian economy to contract sharply in March and April, with historic GDP losses of 7.5 percent and 11.7 percent, respectively. Statistics Canada said the data point to “a decline of about 12% …

source https://this.kiji.is/en/661987805449454689?c=648607265489716321

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