Canada’s shrivelled economy in far worse shape than expected

Canada's economy has shrivelled at a much faster rate than the Trudeau government predicted, with national production declining an initial 2.6 percent followed by a 9 percent drop in March.

More worryingly, however, new reports have also emerged that the Trudeau government has no plan to manoeuvre the county out of this crisis.

All this was laid bare in a Statistics Canada report: "Economic disruptions have been both deep and widespread in the month of March"

"Among the hardest hit by social distancing measures and government restrictions have been the travel and tourism-related industries such as personal transportation, restaurants and accommodation," the report continued.

The economic consequences of coronavirus are as stark as it is unprecedented with the nine percent drop being "the largest one-month decline in GDP" since data was first collected.

Due to poorly kept data, it is unclear which provinces have been affected most.

Another study unearthed by Blacklock's reveals the sheer pressure that has been placed on small businesses—losing over $200,000 since March.

"Fifty-one percent of business owners cannot confirm their business will survive if the current restrictions remain until the end of May," added the survey's report.