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Canada's GDP bounced back in May, but it was still 15% below where it was before COVID-19 – CBC.ca

Published

4 years ago

July 31, 2020

Canada’s economy expanded by 4.5 per cent in May, a strong bounceback from the low hit in April, but still 15 per cent below the level it was at in February, before COVID-19 hit.

Statistics Canada reported Friday that Canada’s gross domestic product — the total value, in dollars, of all the goods and services produced by the economy during the month — came in at a little more than $1.7 trillion, annualized. That’s up from April’s annualized level of $1.62 trillion, but still well shy of the $1.99 trillion worth of economic activity the country churned out in February.

The data agency says 17 of the 20 sectors of the economy it tracks grew, but goods-producing industries bounced back especially strongly, up 8 per cent. The service sector’s gain was comparatively lower, at 3.4 per cent.

The only parts of the economy that shrank again were management, public administration, and the arts and entertainment sector.

“The entertainment sector is going to be under ongoing pressure, though the restart of the NHL with both hubs in Canada should provide some support,” Bank of Montreal economist Benjamin Reitzes noted after the data came out.

The construction industry posted the biggest gain, as activity came roaring back up 17.6 per cent after being shut down in March and April. Retail also boomed, with sales up 16.4 per cent. May was the biggest monthly expansion for both those industries since record-keeping began in 1961.

Economists had been expecting a rebound of about 3.5 per cent, so May’s numbers were better than expected. And the agency says preliminary data for June is even better, up five per cent from May’s level.

But the numbers underline just how long the road back from COVID-19 is for Canada’s economy. Output is still 15 per cent below where it was.

Reitzes noted that Statistics Canada’s preliminary guess for May was 3 per cent, so the final number coming in at 4.5 per cent suggests the agency may be similarly short-changing its guess for June at just 5 per cent.

“StatsCan’s estimate for June would put GDP at about 90 per cent of February levels, still leaving a big hole to climb out of,” he said.

Trevin Stratton, chief economist with the Canadian Chamber of Commerce, said the bounceback in May was good to see, but underlines just how long and slow the recovery is poised to be.

“The road to recovery begins now by focusing on the economic fundamentals that will bring back investment, stimulate demand and create new jobs,” he said, noting that the data suggests Canada is on track to have plunged by 12 per cent in the second quarter, a much worse performance than the 9.5 per cent contraction seen in the U.S.

“Our economy is still only 90 per cent of the size it was in February and public sector spending will only get us so far,” he said.

the road to recovery begins now by focusing on the economic fundamentals that will bring back investment, stimulate demand and create new jobs.

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RCMP arrest second suspect in deadly shooting east of Calgary

Published

2 hours ago

September 13, 2024

Anne Joseph

EDMONTON – RCMP say a second suspect has been arrested in the killing of an Alberta county worker.

Mounties say 28-year-old Elijah Strawberry was taken into custody Friday at a house on O’Chiese First Nation.

Colin Hough, a worker with Rocky View County, was shot and killed while on the job on a rural road east of Calgary on Aug. 6.

Another man who worked for Fortis Alberta was shot and wounded, and RCMP said the suspects fled in a Rocky View County work truck.

Police later arrested Arthur Wayne Penner, 35, and charged him with first-degree murder and attempted murder, and a warrant was issued for Strawberry’s arrest.

RCMP also said there was a $10,000 reward for information leading to the arrest of Strawberry, describing him as armed and dangerous.

Chief Supt. Roberta McKale, told a news conference in Edmonton that officers had received tips and information over the last few weeks.

“I don’t know of many members that when were stopped, fuelling up our vehicles, we weren’t keeping an eye out, looking for him,” she said.

But officers had been investigating other cases when they found Strawberry.

“Our investigators were in O’Chiese First Nation at a residence on another matter and the major crimes unit was there working another file and ended up locating him hiding in the residence,” McKale said.

While an investigation is still underway, RCMP say they’re confident both suspects in the case are in police custody.

This report by The Canadian Press was first published Sept. 13, 2024.

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26-year-old son is accused of his father’s murder on B.C.’s Sunshine Coast

Published

3 hours ago

September 13, 2024

Anne Joseph

RICHMOND, B.C. – The Integrated Homicide Investigation Team says the 26-year-old son of a man found dead on British Columbia’s Sunshine Coast has been charged with his murder.

Police say 58-year-old Henry Doyle was found badly injured on a forest service road in Egmont last September and died of his injuries.

The homicide team took over when the BC Coroners Service said the man’s death was suspicious.

It says in a statement that the BC Prosecution Service has approved one count of first-degree murder against the man’s son, Jackson Doyle.

Police say the accused will remain in custody until at least his next court appearance.

The homicide team says investigators remained committed to solving the case with the help of the community of Egmont, the RCMP on the Sunshine Coast and in Richmond, and the Vancouver Police Department.

This report by The Canadian Press was first published Sept. 13, 2024.

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Metro Vancouver’s HandyDART strike continues after talks break with no deal

Published

3 hours ago

September 13, 2024

Anne Joseph

VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, have broken off without an agreement following 15 hours of talks.

Joe McCann, president of Amalgamated Transit Union Local 1724, says they stayed at the bargaining table with help from a mediator until 2 a.m. Friday and made “some progress.”

However, he says the union negotiators didn’t get an offer that they could recommend to the membership.

McCann says that in some ways they are close to an agreement, but in other areas they are “miles apart.”

About 600 employees of the door-to-door transit service for people who can’t navigate the conventional transit system have been on strike since last week, pausing service for all but essential medical trips.

McCann asks HandyDART users to be “patient,” since they are trying to get not only a fair contract for workers but also a better service for customers.

He says it’s unclear when the talks will resume, but he hopes next week at the latest.

The employer, Transdev, didn’t reply to an interview request before publication.

This report by The Canadian Press was first published Sept. 13, 2024.

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