The Canadian economy contracted 5.4% in 2020, due to the impact of the coronavirus pandemic, its worst setback in at least 60 years, the Canadian Institute for Statistics said on Tuesday.
By comparison, Canada posted growth of 1.9% in 2019. However, the Canadian economy rebounded sharply at the end of the year, with growth of 9.6% at an annualized rate in the fourth quarter, an increase higher than the expectations of economists.
