The central bank said the real rate of annual growth was 16.5 per cent in the April-June quarter, down from a 2 per cent contraction in the first quarter of the year.
Business shutdowns, travel restrictions and other measures to help contain outbreaks of the new coronavirus took a heavy toll.The central bank said, however, that key indicators such as exports, industrial output and consumer spending began to bounce back in May as pandemic-related restrictions were eased.
It is forecasting a contraction for the full year of minus 3.5 per cent to minus 5.5 per cent. It expects the economy to resume expansion in 2021, growing between 5.5 per cent and 8 per cent.
And nobody is going after communist China for compensation or is still doing business with them? Let’s also not forget the communist China controlled pathetic media has completely abandoned any attempts at holding them accountable.
Bad News for Canada as a resource based country that depends heavily on exports. We are screwed. Canada makes nothing the world needs right now. Canada needs major economic reform to maintain our quality of living. Meanwhile our leading political party is ripping us off.
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