This document provides an overview and analysis of key macroeconomic and microeconomic indicators for Canada in December 2020 and January 2021. It discusses employment levels declining further in January, rising housing prices and building permit activity dominated by housing construction, mixed performance in manufacturing, and higher exports partially offsetting declines in oil exports in December. It also reviews commodity prices, inflation rising in January driven by durable goods and gasoline, and issues around procurement and fiscal management in Canada. In summary, the document indicates Canada is facing challenges around job losses, GDP growth lagging peers, and fiscal sustainability concerns at all levels of government.