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 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 a second wave of COVID-19 cases. Many provinces have imposed strict measures, including lockdowns and even curfews to control recent outbreaks, which seems to have helped reduce new case counts over the past month. Our latest CERT reading, as of Feb. 12, remains 21% below pre-COVID-19 levels.