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Bloomberg
Canada’s economic heartland is shutting down as Ontario and Quebec step up efforts to slow down the coronavirus outbreak.
The two provinces, which together account for about 57% of the country’s economy, have ordered non-essential businesses to close by the end of Tuesday. The order is set to run for two weeks in Ontario and three in Quebec.
“We’re entering a new, more critical stage and it’s time to add measures to limit contagion,†Quebec Premier Francois Legault told reporters.
The drastic measures reflect policy makers’ concerns over the escalation of cases, which some people make worse by continuing to go out and mingle.
While many companies already announced plans to suspend operations, the additional closures are set to deepen an economic contraction that economists estimate will be between 10% and 24% in second quarter.
, on an annualized basis.