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Canada sees largest increase in negative economy assessment amid COVID-19 among countries polled

Last Updated Sep 3, 2020 at 10:59 am PDT

Bank skyscrapers are seen from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. THE CANADIAN PRESS/Adrien Veczan
Summary

61 per cent of Canadians feel the current economic situation in this country is 'bad': poll

That's up from just 27 per cent in 2019

Canada saw the largest increase in negative assessment of the economy, Pew Research Centre finds

TORONTO – Canadians are not feeling optimistic about the country’s economic future — six months after COVID-19 hit North America.

A new global poll says confidence in the Canadian economy took a dramatic dive over the summer in the midst of the COVID-19 pandemic.

Sixty-one per cent of Canadians taking part in the Pew Research Centre survey say the current economic situation is bad, more than twice the number who said the same in 2019.

“The sharpest uptick in negative assessments has come in Canada, where second-quarter losses in gross domestic product were estimated at 12 (per cent),” the centre writes, adding the percentage of Canadians who believed the economy’s situation was bad was just 27 per cent last year.

Fourteen countries were included in the survey on economic situations. Respondents in the majority of those countries consider the current economic situation to be “bad.”

Of those countries, Sweden saw the “smallest increase in negative assessments of the economy,” Pew Research has found.

Sweden did not impose strict COVID-19 measures, however, its economy was not immune to the fiscal impacts of the health crisis.

Pew reports the GDP in Sweden is expected to contract by about five per cent this year.

“Swedes are 11 percentage points more likely to think economic conditions in their country are poor than in 2019,” the centre adds.

Pew says more than 1,000 Canadians were polled between June 15 and July 27.