2020 was the worst year on record for Canada's economy. It shrank by 5.4%

Canada's economy shrank by 5.4 per cent last year, official data from Statistics Canada showed Monday, making 2020 the worst year for the country's economic output since record keeping began.

The data agency said Tuesday that Canada's gross domestic product — the total value of all goods and services it produced — grew by 2.3 per cent during the last three months of the year, but that was nowhere near enough to offset the record-setting plunge it experienced during the the middle half of 2020.

Since bottoming out in the spring and early summer, economic activity has slowly, steadily grown.

For comparison purposes, Canada's economy contracted almost twice as much as the U.S. did during the COVID-19 pandemic, despite the U.S. seeing far more cases per capita.

Preliminary data suggests the U.S. economy shrank by 3.5 per cent last year.

Program Schdule
Thursday
  • From 06:00:00 To 07:00:00
    Indha Naal Iniya Naal (Tamil)
  • From 07:00:00 To 09:00:00
    Good Morning Canada (Tamil)
  • From 09:00:00 To 12:00:00
    Netru Indru Naalai (Tamil)
  • From 12:00:00 To 15:00:00
    What's Up Toronto (Tamil)
  • From 15:00:00 To 17:00:00
    Hello Tamizha! (Tamil)
  • From 17:00:00 To 19:00:00
    Coffee Double Double (Tamil)
  • From 19:00:00 To 21:00:00
    Namma Ooru Evening (Tamil)
  • From 21:00:00 To 22:00:00
    Radio Humsafar (Punjabi)
  • From 22:00:00 To 23:00:00
    Potpourri Radio (Urdu/Hindi)
  • From 23:00:00 To 00:00:00
    Emrooz Radio (Farsi)