Canada's GDP bounced back in May, but it was still 15% below where it was before COVID-19

Canada's economy expanded by 4.5 per cent in May, a strong bounceback from the low hit in April, but still 15 per cent below the level it was at in February, before COVID-19 hit.

Statistics Canada reported Friday that Canada's gross domestic product — the total value, in dollars, of all the goods and services produced by the economy during the month — came in at a little more than $1.7 trillion.

See Full Article



Advertisements

Latest Economic News

  • Pattie Lovett-Reid: Canadians are back to borrowing at pre-pandemic levels

    Economic CTV News
    TORONTO -- I had hoped it would be different, but sadly I don't think it will be. Study after study highlighted during the pandemic, a COVID-19 silver lining -- the realization that we didn't need as much stuff, we could live below our means and having an emergency fund wasn't a nice-to-have, but a need-to-have. Source
  • Asian shares mixed despite fresh records on Wall Street

    Economic CTV News
    TOKYO -- Asian shares were mixed on Monday on renewed caution despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the global economy. Japan's benchmark Nikkei 225 was up less than 0.1% at 26,657.18. Source
  • Asian shares fall despite fresh records on Wall Street

    Economic CTV News
    TOKYO -- Asian shares slipped Monday on renewed caution despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the global economy. Japan's benchmark Nikkei 225 dipped 0.8% to 26,433.62 as markets throughout the region quickly lost early gains. Source
  • Global shares mixed after fresh records on Wall Street

    Economic CTV News
    TOKYO -- Global shares were mixed Monday on renewed caution despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the global economy. France's CAC 40 fell 0.3% to 5,579.72 in early trading, while Germany's DAX inched up less than 0.1% to 13,346.33. Source
  • Stocks edge off record highs as investors gauge outlook

    Economic CTV News
    TOKYO -- Global shares turned lower on Monday as investors took a breather after pushing Wall Street to a record high last week on hopes for a COVID-19 vaccine. U.S. shares were set to decline as Dow futures dropped 0.7%, while S&P 500 futures fell 0.5%. Source
  • Big Six banks to remain cautious at end of fiscal year as recovery stretches on

    Economic CTV News
    TORONTO -- Three promising COVID-19 vaccine candidates may be driving stock markets higher and fuelling hopes for an economic rebound, but experts say Canada's major banks will continue playing it safe as they report earnings and wrap up their fiscal years this week. Source
  • Black Friday sees record online as U.S. shoppers stay home

    Economic CTV News
    Black Friday online sales hit a new record this year as pandemic-wary Americans filled virtual carts instead of real ones. Consumers spent an estimated US$9 billion on U.S. retail websites on Black Friday, according to Adobe Analytics, which tracks online shopping. Source
  • U.K. says Brexit trade talks with EU are in their 'last week'

    Economic CTV News
    LONDON -- Britain's foreign minister said Sunday there is only about a week left for the U.K. and the European Union to strike a post-Brexit trade deal, with fishing rights the major obstacle to an agreement. Source
  • Tony Hsieh, retired Zappos CEO, dies at 46

    Economic CTV News
    LAS VEGAS -- Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer Zappos.com who spent years working to transform the city's downtown area, has died. He was 46. Hsieh was with family when he died Friday, according to a statement from DTP Companies, which he founded. Source
  • Tony Hsieh, retired CEO of online shoe retailer Zappos, dead at 46

    Economic CBC News
    Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer Zappos.com who spent years working to transform the city's downtown area, has died. He was 46. Hsieh was with family when he died Friday, according to a statement from DTP Companies, which he founded. Source