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
The short-term outlook is more upbeat for most of Canada’s primary resource sectors.
Pandemic-induced disruptions to global supply chains will continue to weigh on some manufacturing segments in the months ahead and prevent them from benefiting fully from strong U.S. demand.
Rising vaccination rates and the easing of restrictions will renew consumer confidence and boost commercial services over the short term.
After plummeting last year, non-commercial services will post a strong comeback.
Fiscal restraint will be a drag on public administration output beginning in 2022.
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