Canadian Outlook Summary Summer 2020
Recovery under way after deepest and shortest recession on record.
As COVID-19 spread throughout the world, many countries mandated lockdowns to slow the transmission of the disease. As a result, economic activity around the globe ground to a halt. We saw that narrative play out here in Canada. The good news is that we have seen a gradual but continued easing of restrictions in Canada since April. This means that the economy likely began rebounding in May.
Contents of the Summer 2020 summary:
- COVID-19 tramples trade
- Labour market recovery restrained by consumer caution
- Pandemic hits housing markets
- Government to the rescue
- Central banks enter uncharted waters