Tracking Canada’s economic recovery from COVID-19

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 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 as a result of the second wave of COVID-19 cases. But in recent months, the Canadian economy is showing signs of resilience and momentum, as many provinces begin easing the restrictions that helped reduce new case counts. With increased presence of COVID-19 variants, the health situation can reverse progress at any time. Our latest CERT reading, as of April 16, the CERT sits 14% below pre-COVID-19 levels, remaining slightly above the summer 2020 performance.