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Statistics Canada released the economic contribution of nonprofit institutions in Canada report. The data showed a 0.3% decrease in real GDP in the first quarter of 2022. This is the first quarterly decrease since the second quarter of 2020, when the real GDP of nonprofits fell 2.5% due to the widespread lockdowns imposed to reduce the spread of COVID-19. The effects of the lockdown measures implemented from late December 2021 through January 2022 affected the nonprofits serving businesses due to organizations being unable to operate in a normal capacity, leading to a decline of 0.8% in real GDP. While nonprofits serving governments saw a decline of 0.6% in real GDP in the first quarter. Positively, nonprofit institutions serving households recorded the only increase among the three subsectors, up 1.2% in the first quarter of 2022. Read more about the economic contribution of the nonprofit sector here.
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