Considering last summer’s partial reopening led to vigorous spending, it’s clear Canadians need little convincing to ramp up their economic participation once the opportunity presents itself
A recent report from BMO Economics found the household savings rate hit a massive 27.5 per cent in the second quarter, compared with an average rate last year of just 1.4 per cent.
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They estimate this savings surge equates to a $150-billion increase over normal standards – a whole 7 per cent of GDP
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