Trade Uncertainty and Demographic Pressures
Quebec’s economy faces a difficult near-term environment and a gradual shift toward more structural forces over the medium term. Continued weakness is on tap in 2026 as U.S. tariffs, trade uncertainty, softer employment, and a declining population weigh on economic activity.
What effect will the province’s demographic challenges have on the labour markets and the unemployment rate over the forecast period? Can consumer spending remain steady? With tariffs and prolonged trade uncertainty unsettling the export and manufacturing sectors, what emerging opportunities could help diversify the province’s investment base and support stronger medium‑term growth? What initiatives will account for most of the province’s capital spending in the near term?
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