Virus Toll in Canada's Biggest Cities Means Recovery Lags U.S.

(Bloomberg) -- The worst may be over for Canada's economy, but the nation's more cautious approach to reopening means a slower rebound than in the U.S. Real-time data such as online job postings, restaurant bookings and mobility tracking show economic green shoots in Canada after nearly three months of Covid-19 restrictions. Economists in a Bloomberg survey predict Canada's economy will shrink by 7.1% in 2020 versus a 5.7% decline in the U.S. Consumer Spending To be sure, consumer spending patterns and job hiring seem to have stabilized from their April lows. [Extracted from the article]

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