Canadian Economy Affected More than Originally Predicted

According to a new Conference Board of Canada report, the recession caused by the coronavirus pandemic will hit Canada twice as hard as initially anticipated. The organization first estimated that Canada was only going to have a 4.3 per cent GDP decrease by the end of 2020, but this was back in April when the country was still shut down, and the forecast to come was still uncertain. 

Now that the economy is trying to adjust to the new norm, it is evident that the damage will be a lot worse as the board now says Canada will have an 8.2 per cent GDP decline by the end of 2020.

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