Canada’s economy has bounced back nicely over the past couple months
Hello, all of your armchair economists out there! We’ve got some good news- Stats Canada recently reported a sharp recovery in Canada’s economy during the past couple of months. May saw GDP growth of around 4.5%, and June is supposed to be around the same.
This basically means that Canada’s economy has recovered about halfway since its total plunge during March and April. Over those two months, the country bottomed out around 18% down from normal levels, a dip not seen since the Great Depression.
Of course, the recovery isn’t the same across the board. For example, retail sales absolutely skyrocketed in May, going up 16% or so. On the other side of the coin, arts and entertainment and the oil and gas industry both shrunk. If we had more time, we’d create a phony news chart correlating the two for kicks.
Are you still curious to see how Canada’s economy is recovering? Not a problem! Just click here to check out the report in full. Feel like contributing to our rebound? All you have to do is order some takeout from a local spot or buy a new shirt.
Easy peasy, folks. Enjoy the weekend!