Earnings and Dividend Growth Report
Canada: Strong Post-COVID Rebound
Though pandemic has caused widespread damage
4,000
CAD monthly
3,000
2,000
1,000
Core Expenses Across Households
total core expenses
core expenses with mortgage deferral
unemployment benefit
0
Bottom
Middle
Top
Bottom
Mortgage holder
Middle
Renter
Top
Sources: Scotiabank Economics, Bank of Canada.
.
COVID-19 led to sharp drop in economic
activity in 1H20
Massive government support set the stage
for a sharp rebound in the economy in 2H20
as economy re-opened.
Population growth remains a key
differentiator in Canada relative to other
countries
The Lasting Impact of
COVID-19 on Canadian GDP
Canada Real Retail Sales
105
Feb 2020=100
100
110
Index, 2019Q4 = 100
105
100
January 13 forecast
95
90
95
90
85
00
80
85
Current forecast
75
80
70
75
65
70
60
19Q4 20Q1 20Q2 20Q3
20Q4
21Q1 21Q2 21Q3
21Q4
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sources: Scotiabank Economics, Statistics Canada.
Source: Scotiabank Economics.
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