Canadian Manufacturing

StatCan reports fewer business closures, more openings in June compared with May

The trend observed in June was observed in every province and territory except Quebec

September 28, 2020  The Canadian Press

OTTAWA — Statistics Canada says it recorded 56,296 business closures in June, an improvement from May but still 44% more than in February before the COVID-19 pandemic struck in force in Canada.

It says the number of business closures in across Canada in June was down 5.6% compared with May.

The trend observed in June was observed in every province and territory except Quebec, which had a 2% increase in business closures compared with the previous month.

There were also 52,723 business openings nationally in June, 33% more than Statistics Canada recorded in May,

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But the agency says only about one-fifth of all businesses that closed in March or April had reopened by June.

As a result, 14.1 of businesses that were active in February remain closed as of June.