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D4 cl Statistics Canada to launch remaining financial figures for 2020, January GDP estimate - The Times Hub

Statistics Canada to launch remaining financial figures for 2020, January GDP estimate

Statistics Canada to launch remaining financial figures for 2020, January GDP estimate

OTTAWA —
Statistics Canada is anticipated to say this morning exactly how unhealthy a yr the Canadian financial system suffered in 2020.

Preliminary estimates from late January steered the financial system suffered its worst yr on file with contraction of 5.1 per cent final yr, which might be the worst decline in six a long time of comparable information.

That in contrast with a pullback of two.9 per cent in the course of the world monetary disaster in 2009.

The huge drop final yr was as a result of shutdown of huge swaths of the financial system in March and April in the course of the first wave of the COVID-19 pandemic.

Since then, financial exercise has slowly and steadily grown, with November marking the seventh straight month of positive aspects.

Monetary information agency Refinitiv says the common economist estimate is for a 7.5 per cent annualized improve in GDP for the fourth quarter of 2020.

The common economist estimate is for a 0.3 per cent GDP improve in December, decrease than the earlier month’s 0.7 per cent rise.

This report by The Canadian Press was first printed March 2, 2021.

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