Despite Challenges, a Mostly Encouraging Forecast: Canada’s Two-Year Industry Trends Outlook

This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on industry trends. For an overview of all major components of the economy, go to the Canadian Outlook main page.

Document Highlights

With the exception of mineral fuels, modest growth is expected for most primary resource sectors over the short term.

The manufacturing sector will continue to face challenges in 2022, but solid U.S. demand will provide a solid boost to most segments.

Higher vaccination rates and the relaxing of public health and travel restrictions will help to prop up commercial services over the next two years.