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Canadian Economy Sees Double Digit Growth

Source: Jordan Press and Craig Wong, The Canadian Press Staff, ctvnews.ca, March 03, 2021

Statistics Canada reported, government aid has more than made up for losses in salaries and wages, particularly for low-income households.

OTTAWA — The Canadian economy sprinted to the finish line of 2020 with nearly double-digit growth in the fourth quarter, ending its worst year on record on a strong note that has continued into the start of 2021.

The economy grew at an annualized rate of 9.6 per cent over the last three months of 2020, Statistics Canada reported Tuesday, down from an annualized growth rate of 40.6 per cent in the third quarter when the country fully emerged from the near-shutdown last spring.

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