Canada | Recovery Tracker sank as Covid-19 cases hit new high
The CRT sank 1.3ppts to 85.9 in the week ended April 16, highlighted by a drop in the health index to a new low. Activity also continued to retreat, as stricter public health measures weigh heavily on consumer spending. The race between the spread of the virus and the vaccine rollout is heating up. Restrictions have tightened further, but the timeline for vaccinations in hot spots has been pulled forward considerably. We remain cautiously optimistic that the economy will avoid a contraction in Q2, despite the third wave of infections.
What you will learn:
- The health index sank 21.6ppts as new cases per million rose to 346, breaching its previous peak in early January. The positive test rate climbed 0.3ppts to 6.5%, and hospitalizations increased 24% w/w.
- The activity index fell 2.7ppts, due to a sharp 38% decline in restaurant bookings and a 1% drop in consumer spending.
- The sentiment index fell 2.1ppts, its fourth straight retreat, as all subcomponents moved lower, led by durable goods and housing interest.
Tags:
Related Services
Post
Japan’s tariff turbulence to flatten near-term growth
We've cut our GDP growth forecasts for Japan by 0.2ppts to 0.8% in 2025 and by 0.4ppts to 0.2% in 2026, reflecting higher US tariffs and heightened global trade policy uncertainty. We now forecast that Japan's economy will barely grow over 2025-2026 on a sequential basis.
Find Out More
Post
Growth outlook cut further for the Eurozone amid tariff turmoil
Given the unique nature of the hike in US tariffs, the size of these supply and demand shocks and the speed at which they are arriving make the precise economic implications particularly hard to pin down. Overall, however, we expect GDP growth in the US and world economy to slow sharply, but we don't anticipate recessions in either.
Find Out More