The COVID19 outbreak can ensure that the disruptions will less likely lead to a recession and can remain until there is clarity. The combination of the global COVID 19 and the oil shock has driven the Canadian economy into recession. There are many who are still struggling to assess the degree of economic decline as the containment were not relaxed when vaccinated. There are many activities which reflect the policymaker putting in the economy to help contain the virus. There are many businesses which is shut down temporarily, and some won’t reopen. The near term economy forecast is based on the companies which are still operating. They have added the price on, and the impact can have a severe drop in oil prices.


The Canadian economy contracted over 3.8% annualised in the first quarter, and the decline is likely to be up to 5%. In the second quarter, there is a significant downturn where it saw 23% of the annualised decline. This is twice as worse as 2008-09 according to new information. There is the containment effort which has proven to be very successful, allowing you to have the bending the curve on the number of net new cases. This is something which happens to someone who is in the middle of the third quarter and anticipated in a double-digit growth rate in the fourth quarter.

The Canadian economic growth has slowed in late 2019 and with the economy, which is posing at a modest 0.3% in the annualised gain the final three months of the last year. The United States and China have to try to reach a trade agreement which can lead easily atop the escalation. The united kingdom negotiated and have successfully legislated the terms of exit from the European Union, which can be very damaging to the European economy.

The primary efforts include containment to the significant global economic and financial effects—the Chinese economy, which lowered demand and depressed prices of commodities. Trade flows with China were distributed to have the right knock-on effects, which, through the global supply chain, can be seen. The bulk blow to the global economic growth can be felt best with 2020, and the rail blockage can be seen through early 2020.

The pandemic continues to escalate with the rising number of cases in countries like the United States and Canada. The virus spread, containment becomes a priority which can allow people to urge to mention social distance. This is was the call to stay home which allowed people to practice self quarantining which was closed and can have a coast imposed lockdown on activity. This triggered the fall in quality prices and commodity prices, etc., and with the reduced supply to support oil prices. This is one of the worse for energy producers which can lead to the price drop in domestic Western Canadian Select at $5 for a barrel.


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