Research Briefing | May 26, 2021

Canada | Recovery Tracker enters May with positive momentum

Canada  Recovery Tracker enters May with positive momentum - iPad

The Canada Recovery Tracker (CRT) rose 1.4ppts to 87.4 in the week ended May 7 and is once again heading in the right direction. The health index has made steady improvements across all categories in recent weeks, and about half the population has received at least one dose as of late May. The mobility and activity indices are also trending upward again, and several provinces have now presented plans to fully reopen their economies in coming months. Eased restrictions should allow for a strong economic acceleration in H2 2021, supported by massive fiscal stimulus, accommodative monetary policy, and robust US growth.

What you will learn:

  • The health index climbed 9.3ppts, as new cases per million, the positive test rate, and hospitalizations all improved for the second consecutive week. 
  • The activity index jumped 9.3ppts, led by gains in consumer spending, air traffic, and restaurant bookings. 
  • The sentiment index fell 1.3ppts, its seventh consecutive drop, as declines in durable goods and housing interest more than offset rising consumer confidence and travel interest. 

Back to Resource Hub

Related Services

Post

Latin America Key Themes 2024 – Slower growth, but it’s not all bad news

Growth in most LatAm economies will be below consensus. Economic momentum has surprised to the upside through most of 2023, but the full effects of record global and domestic monetary tightening are yet to be seen.

Find Out More

Post

Easing financial conditions offer CRE some respite

Our measure of financial conditions has become less restrictive in the US and started to loosen in the eurozone and the UK, reflecting investors' expectations that interest rates have peaked. This should aid the outlook for commercial real estate (CRE) on the margins, although the scale of past rate hikes, sluggish economies, and structural headwinds mean the sector still confronts challenging fundamentals.

Find Out More