Canada's economy shrank by 11.6 per cent in April, the biggest plunge on record, following March's contraction of 7.5 per cent as COVID-19 lockdowns began. Statistics Canada reported Tuesday that all 20 categories the data agency tracks were lower, and they added up to the biggest monthly plunge since record-keeping began in 1961. April's plunge means the economy at the end of April had lost almost one fifth of the output it produced at the end of February. Manufacturing was down by 22.5 per cent from March's already low level, while construction plunged 22.9 per cent. Rebound expected through summer"We expect a bigger bounce in June, as the economy reopened more fully."

Source: CBC News June 30, 2020 13:19 UTC