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In 2020, Canada's GDP recorded its worst contraction since 1961

2021-03-02T14:35:36.491Z

The Canadian economy, however, rebounded sharply at the end of the year, growing 9.6% in the fourth quarter.



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.

Source: lefigaro

All business articles on 2021-03-02

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