This quarter, we look at the impact of higher interest rates and inflation on Thunder Bay’s economy.
With higher borrowing costs and inflation eating away at incomes, which sectors of the local economy will be hit hardest by weakening consumer demand? To what extent will major construction projects, particularly the new jail, cushion the city’s economy from this year’s wider national and global economic slowdowns? We share our outlook for Thunder Bay’s economy, including output, employment, and population growth.
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