The diving record of the economy in April

Plongeon record de l’économie en avril

Photo: Marie-France Coallier The Duty
Initial indications are predicting a rebound of the economy in may, thanks to the reopening of businesses, according to Statistics Canada.

The country’s economy has experienced its biggest monthly decline ever recorded in April, whereas it is almost stopped due to the pandemic.

The first indications, however, anticipate a rebound in may, thanks to the reopening of businesses, according to Statistics Canada.

The agency states that the gross domestic product has fallen from 11.6% in April, non-essential have been closed for a month. A 7.5% decrease had already been recorded in march.

Statistics Canada asserts, however, that its initial estimate for may indicates a growth of 3.0 %.

The economists expected to average a decline of 13% in April, according to the company data on the financial markets Refinitiv.

Other details will follow.

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