Canada’s Economy In For 10 Years Of Hardship: Capital Economics: Canada’s economy will grow at a reduced rate for the next 10 years because high household and business debt levels will act as a drag on the recovery from COVID-19, a new report says.

The report from U.K.-based Capital Economics predicts the economy will end the year 6.3 per cent smaller than before the pandemic, and will recover most ― but not all ― of that next year.

It also sees the country ending the year with 6.2 per cent fewer jobs, despite the wave of rehiring being seen right now as provinces lift their lockdown orders.

Canada’s Economy In For 10 Years Of Hardship: Capital Economics: Canada’s economy will grow at a reduced rate for the next 10 years because high household and business debt levels will act as a drag on the recovery from COVID-19, a new report says.The report from U.K.-based Capital Economics predicts the economy will end the year 6.3 per cent smaller than before the pandemic, and will recover most ― but not all ― of that next year.It also sees the country ending the year with 6.2 per cent fewer jobs, despite the wave of rehiring being seen right now as provinces lift their lockdown orders.Read More