In these challenging times, Export Development Canada (EDC) is keeping a close eye on how the pandemic is affecting Canadian companies and the global economy. To help you monitor the overall progress on the road to recovery, our monthly Canadian Economic Recovery Tracker (CERT) offers timely insights from a variety of indicators—available several weeks before official statistics are released. For more information on the CERT methodology, click here.

Canada’s economy continues to adjust to the unprecedented contraction in global economic activity suffered in early 2020 due to the pandemic. After a sharp, but partial economic recovery during the first reopening phase, the Canadian economy faced additional setbacks due to subsequent waves of COVID-19 cases driven by COVID-19 variants. Since our last release in October, new COVID-19 cases in Canada have been in a slow decline, and the health situation is improving with border restrictions being eased. Our latest CERT reading, as of Nov. 19, is now hovering around pre-pandemic levels.

Deviations from pre-COVID-19 baseline

    

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