Canada’s Economic Recovery Is Wildly Uneven Despite July Growth

(Bloomberg) -- Only a quarter of Canadian industries have recovered to pre-pandemic levels of output, signaling an uneven economic recovery.

Just five of the 20 industrial sectors tracked by Statistics Canada were producing more in July than February, data released Wednesday show.

While the economy as a whole has recovered to 95% of its pre-pandemic size, growth in most sectors remained muted, even as more businesses began to open in the summer.

The arts and entertainment sector has been hit hardest, with July output 53% below February levels. Accommodation and food services are down by a third.

The agriculture and utility sectors have grown since the pandemic began, as have finance and real estate. The retail trade sector, buoyed by generous government income supports, has seen small gains.

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