Fraser Institute News Release: Canada’s economic performance heading into COVID recession was weakest of last five pre-recession periods
Canadas economy, whether measured by growth in income or business investment, or the strength of our labour markets, was the weakest in the four years (2016-19) leading up to the COVID-recession relative to the four previous comparative periods, said Jason Clemens, executive vice president of the Fraser Institute and co-author of Comparing Economic Performance in Five Pre-recession Periods .
- Canadas economy, whether measured by growth in income or business investment, or the strength of our labour markets, was the weakest in the four years (2016-19) leading up to the COVID-recession relative to the four previous comparative periods, said Jason Clemens, executive vice president of the Fraser Institute and co-author of Comparing Economic Performance in Five Pre-recession Periods .
- The study compares numerous economic indicators relating to income growth, labour markets and business investment for the last five pre-recessionary periods: 1986-1989, 1997-2000, 2005-2008, 2011-2014, and 2016-2019.
- On almost all of the measures included in the analysis, the economic performance from 2016 to 2019 (the years preceding the COVID-19 recession) was the weakest.
- The evidence is clearCanadas economy was weaker heading into the COVID-19 recession than it was during the years preceding the last four recessions or economic slowdowns, Clemens said.