Canada's Economy Shrank 8.2% in Q1

by Naharnet Newsdesk 29 May 2020, 16:26

Canada's economy shrank at an annual rate of 8.2 percent in the first quarter as consumers stopped spending and business ground to a halt because of the coronavirus pandemic, the government reported Friday.

Analysts had forecast an even bigger hit, of 10 percent.

Compared to the final quarter of 2019, the decline was 2.1 percent, Statistics Canada said.

Source: Agence France Presse

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