Real gross domestic product (GDP) dropped 7.2% in March. After the World Health Organization declared COVID-19 a pandemic on March 11, all levels of government in Canada put measures in place to slow its spread. Measures such as mandatory closures of non-essential businesses, schools and public institutions, and travel restrictions and physical distancing, combined with the closure of Canada's international borders, affected all segments of the Canadian economy. Overall, 19 of the 20 industrial sectors were down, contributing to the large monthly decline. Chart 1 Chart 1: Real gross domestic product drops in March ... (full story)