Recent developments in the Canadian economy, 2020: COVID-19, third edition
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Released: 2020-07-28
As the COVID-19 virus began to spread globally earlier in 2020, countries began to put measures in place to limit the contagion. This included locking down all but essential services, while trying to keep frontline workers safe from the virus. The result was a severe decline in economic activity in Canada and across the globe.
In recent months, Canada and other countries have begun lifting the restrictions on social and economic activity, while monitoring any further spread of the virus.
Using official announcements from provincial governments, this article provides a brief overview of the strategies provinces are using to lift these restrictions. In most cases, the approach is often a slow, methodical lifting of restrictions in phases over a period of weeks and months. The article also looks briefly at certain international experiences.
The article is intended as a reference document that provides contextual information on the reopening process as social and economic restrictions related to COVID-19 are gradually relaxed across the country.
The effectiveness of both the containment measures used during the lockdown and the reopening strategies being implemented will impact how the Canadian economy, and that of the rest of the world, recovers from the lockdown.
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The research article "Recent Developments in the Canadian Economy, 2020: COVID-19, third edition", part of Economic Insights (11-626-X), is now available.
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