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.
Sustained Recovery Finally in Sight: Manitoba’s Two-Year Outlook
Sustained Recovery Finally in Sight: Manitoba’s Two-Year Outlook
Provincial Economic Analysis
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- After contracting by 5.3 per cent last year, Manitoba’s real GDP will expand by 5.7 per cent in 2021 and 4.3 per cent in 2022.
- With the province’s reopening plan under way, we forecast solid growth in output and employment for the rest of the year, especially in the services-based industries.
- Strong commodity prices and robust international demand for agri-food products have fuelled Manitoba’s exports this year.
- Manitoba is suffering its driest year on record of the last century; the lack of rainfall has devastated the quality and yield of key crops.
- With few new major investment projects announced, we forecast sluggish growth for non-residential investment and construction output over the next few years.
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