Canada | Recovery Tracker heats up as summer approaches

Our Canada Recovery Tracker (CRT) rose 3.3ppts to 90.9 in the week ended May 21, its fourth straight weekly increase. Six of seven subcomponents went up, led by strong gains in health and sentiment.

What you will learn:

• The health index climbed 18.5ppts as all subcomponents improved, highlighted by a 26% w/w drop in new cases per million. Declines were also seen in the positive test rate, hospitalizations, and the reproductive rate, which fell 0.09pts to 0.77, its lowest level since June 2020.
• Mobility rose 3.8ppts w/w with all subcomponents up, led by increases in driving and retail and recreation. 
• The sentiment index rose 9ppts as health conditions improved and provinces began releasing their multi-stage reopening plans. Strong travel and tourism interest led the way, while housing interest also surged.