Canada’s CPI inflation rate was depressed in the pandemic months following February 2020 by a cumulative 1.7 percentage points. In the United States, the corresponding impact was 1.2 points. Since early 2021, the recovery has boosted inflation in Canada by 1.2 percentage points, while in the United States the positive impact has been 2.1 points. As of November 2021, then, the pandemic has had a net negative effect on cumulative inflation in Canada and a net positive effect in the United States.
The 2008 recession marked another era of rapid debt-to-GDP growth during the recession and over the following half decade. This indicator proved a one-way ratchet, and held steady in the following years rather than dropping back down to pre-recession levels. Two-thirds of Canada’s private sector active enterprises are microbusinesses and one in three working Canadians owns or works in a small business . So, to know where our economic recovery is headed, it’s important to look at how our independent, local businesses are doing.has been doing just that in the past couple of years, tracking recovery on a regular basis by asking businesses if they consider they are fully open, fully staffed or making normal sales, compared to a pre-pandemic year.
What are the odds they’ll lose those homes to medical bankruptcy?