In these challenging times, 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 new Canadian Economic Recovery Tracker 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.

After an unprecedented drop in global economic activity due to the pandemic, Canada’s economy has begun to recover. The gradual lifting of lockdowns and business reopenings since May has provided a strong initial boost of activity, but the pace of the recovery seems to have slowed toward the end of July. As of July 24, the CERT suggests that aggregate economic activity remains 17% below pre-COVID-19 levels.

Chart shows economic activity below 17% as of July 24

    

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