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Economic outlook - Quarterly update on Canadian and International economic trends and events

Published on: Jun 30, 2021

The last few months have demonstrated that the Canadian and global economies remain susceptible to the progression of the pandemic. In our last outlook in March, we anticipated that public health measures would continue throughout the spring, but we did not foresee the impact the COVID-19 variants of concern would have on some parts of the world. Here in Canada, the third wave hit hard, necessitating the reintroduction of strict public health measures and resulting in the economy contracting in April. The short-term dip in economic activity is not unexpected given the business closures across the country, and there is reason for optimism as we look ahead.

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