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Its Diversified Economy Will Help Manitoba Cope: Manitoba’s Two-Year Outlook The Conference Board of Canada, 13 pages, March 18, 2021 Issue Briefing

Its Diversified Economy Will Help Manitoba Cope: Manitoba’s Two-Year Outlook

The Conference Board of Canada, 13 pages, March 18, 2021
Issue Briefing

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This quarterly economic forecast for the province of Manitoba examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions. Document Highlights Manitoba’s economy will rebound and expand by 4.3 per cent this year following a 4.0 per cent decline in 2020. The decline in economic activity during the pandemic has been less severe in Manitoba than in most other regions of the country, thanks in part to a more diversified economy that is less reliant on energy than those of the other Prairie provinces. The recovery in economic activity this year will be led mainly by rising expenditures on services as the province gradually reopens. The province is set to run a record-high deficit in fiscal 2020–21 due to the massive support required to fight COVID-19. Manitoba’s exporters should benefit from easing trade tensions with the U.S. now that the less abrasive Biden administration is in office. Table of Contents Key findings Manitoba snapshot Overview Employment Consumption Investment Key sectors outlook Methodology

This quarterly economic forecast for the province of Manitoba examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

Manitoba’s economy will rebound and expand by 4.3 per cent this year following a 4.0 per cent decline in 2020.

The decline in economic activity during the pandemic has been less severe in Manitoba than in most other regions of the country, thanks in part to a more diversified economy that is less reliant on energy than those of the other Prairie provinces.

The recovery in economic activity this year will be led mainly by rising expenditures on services as the province gradually reopens.

The province is set to run a record-high deficit in fiscal 2020–21 due to the massive support required to fight COVID-19.

Manitoba’s exporters should benefit from easing trade tensions with the U.S. now that the less abrasive Biden administration is in office.

Key findings

Manitoba snapshot

Overview

Employment

Consumption

Investment

Key sectors outlook

Methodology

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