Canada's economy looks like it shrank by 5% last year, says Statistics Canada
Bank of Montreal economist Doug Porter said the November numbers came in as a pleasant surprise, as the data agency had telegraphed earlier that the economy looked like it had only grown by 0.4 per cent. The final numbers were almost twice that. Economists were also expecting a shrinkage in December, as lockdowns took hold, but Statscan is now suggesting a small gain for that month, too. 'The road ahead is challenging' "We still believe that with schools closed in some regions, and some additional restrictions, that GDP will likely pull back in January — and next week's jobs report for th...
Source: cbc.ca
