Canada

Statistics Canada to release April GDP report today, record plunge expected

OTTAWA - Statistics Canada will release its reading for gross domestic product for April this morning.

The report is expected to show a record plunge as the COVID-19 pandemic brought non-essential businesses to a halt.

April is expected to be the bottom for the economy with non-essential businesses shut for the full month before they started reopening in May.

Statistics Canada’s initial estimate for April that it released last month pointed to a 11 per cent decline in GDP for the month.

Economists on average expect a drop of 13 per cent, according to financial markets data firm Refinitiv.

The Canadian economy pulled back 7.2 per cent in March as the World Health Organization declared the pandemic and non-essential businesses closed to slow the spread.

This report by The Canadian Press was first published June 30, 2020.

Football news:

Maurizio Sarri: One day, Higuain needs to be pampered, the other-nailed to the wall
Captain Huesca's armbands-a textbook on the history and geography of Spain
Barcelona denied organizing attacks on its players in social networks
Rangnick will combine work of the head coach and technical Director in Milan
Veron-Messi: If you want to come to Estudiantes, the ten is yours!
World champion-1970 Tostao: Only a hybrid of Ronaldo and Messi can be compared to Pele
Diego Simeone: real get more penalties because of VAR, because they attack more