Canada's Insolvencies Drop To 23 Year Low Despite Pandemic

[Economy 52,844]

https://www.bnnbloomberg.ca/insolvencies-in-canada-plunge-to-23-year-low-on-trudeau-support-1.1502351

 

Canada's Insolvencies have dropped to a 23 year low despite the pandemic and lockdowns on signs the large spending stimulus and benefits helped keep households afloat

 

The deficit is equivalent to nearly 20% of GDP an all time record as mass cash injections are sent into economy

 

Experts warn this may not last as benefits slowly start being tapered back while unemployment remains high and many businesses which did not get as much help as individuals are declaring bankruptcy which means when benefits end many will find themselves with no source of income