Council Reports
August 24, 2021 - The C.D. Howe Institute’s Business Cycle Council, Canada’s main arbiter of business cycle dates, has declared an end to the COVID-19 recession.
The Council decided on August 9 to declare an end to the recession that began in March 2020. It judged that the recovery from the recession is now prolonged and sustained enough to declare that the trough of the recession occurred in April 2020, making this the shortest and deepest recession since the Great Depression that began in 1929.
In March and April 2020, there were unprecedented falls in economic activity. April GDP was 17.7 percent below its level in February 2020. The Council declared on May 1, 2020, that Canada entered a recession in the first quarter…
December 17, 2020 – Despite economic recovery since April, it is too early to call the end of the recession, according to a new C.D. Howe Institute Business Cycle Council report.
The Council, comprised of Canada’s preeminent economists in the field and co-chaired by Steve Ambler and Jeremy Kronick, is an arbiter of business cycle dates in Canada. The Council typically meets annually, but also when economic conditions indicate the possibility of entry to, or exit from, a recession.
The Council met on December 7 to review the case for calling April 2020 as the end of the recession based on signs of economic recovery since then.
Entering and exiting a recession implies a change in the direction of economic activity,…
Canada Entered Recession in First Quarter of 2020: C.D. Howe Institute Business Cycle Council
May 1, 2020 – Preliminary data suggest Canada entered a recession in the first quarter of 2020 with a February peak, says the C.D. Howe Institute’s Business Cycle Council.
The Council, comprised of Canada’s preeminent economists in the field and co-chaired by Steve Ambler and Jeremy Kronick, is an arbiter of business cycle dates in Canada. The Council typically meets annually, but also when economic conditions indicate the possibility of entry to, or exit from, a recession.
Due to the COVID-19 pandemic and the ensuring government shutdown that put a stop to much economic activity, the Council met on April 16 to review the case for calling the beginning of a recession in the first quarter of 2020 and the dating of the…
