Canada’s gross domestic product experienced an historic monthly decline of 11.6% in April, due to containment imposed to counter COVID-19, Statistics Canada reported on Tuesday.
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“All 20 sectors of the Canadian economy posted a decrease, which resulted in the largest monthly decline since the start of the series in 1961,” said the federal institution.
With the strong monthly decline already recorded in March, the economy contracted by 18.2% in April compared to February, the month before the entry into force of anti-COVID measures.
The accommodation and food services sector declined the most, having plunged 42.4% in April, after declining 37.1% in March. This industry plunged about 64% from February.
Arts and entertainment (- 25.6%), manufacturing (- 22.5%), transportation and warehousing (- 23.1%), retail trade (- 22.9 %) and construction (-22.9%) backed down in similar proportions. All of the manufacturing, retail and construction subsectors declined.
In contrast, the finance and insurance sector lost only 1% in April. Public services (-1.8%) and professional services (-1.3%) also experienced modest declines.
According to preliminary information collected by Statistics Canada, real GDP rose by about 3% in May with the deconfinement. Production in the manufacturing, retail, wholesale and public sectors (education, health care and public administration) was notably up in May.
