Statistics Canada | Quarterly financial statistics for enterprises

August 26, 2020 in Latest News, Regional

Since January, the COVID-19 pandemic has spread worldwide at an unprecedented speed. This has led many countries to take drastic measures to slow the circulation of the virus. These measures have continued to impact global economic activity.

In the second quarter, Canadian corporations reported a decline of 8.0% in net income before taxes, a decrease of $4.5 billion, to $52.3 billion. Operating revenue declined 11.6%, to $940 billion during the quarter, with the decrease amplified by compounding weeks of confinement followed by a gradual re-opening.

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