The Canadian Territorial Outlook 2016: Bracing for Limited Growth

The Conference Board of Canada, February 22, 2016
Recorded Webinar by ,
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2015 was a difficult year for the Territories. The mining sector has faced strong headwinds due to depressed global prices and weak demand. As a result of the downturn in this key industry, all three territories faced difficult economic conditions in 2015, and 2016 is looking like another year of struggle.There is some good news of course. Public investment in much-needed infrastructure will be the driver of modest growth in Nunavut and Yukon, while the Northwest Territories are bracing for yet another difficult year. The medium and long-term outlook is somewhat brighter as additional mines come online around the turn of the next decade. But what should communities, government, and industry be doing now to brace themselves for short-term economic struggle?

Join Economist Elise Martin, as she provide the economic and fiscal outlook for each territory, including demographic make-up, output by industry, and labour market conditions. You won’t want to miss this expert analysis and discussion of the most up-to-date economic outlook for the Northwest Territories, Nunavut and Yukon, using the Conference Board's unique forecasting model for the territories.

To set the stage, Marie Christine Bernard, Associate Director of Provincial and Territorial Outlook will present the Conference Board's world, U.S. and Canadian economic forecasts, as well as fiscal and monetary policy.

Webinar Highlights

In this 60-minute webinar, the outlook for each Territory will be highlighted and discussed in detail:

  • Nunavut—Economic growth is expected to return to positive territory in 2016, but growth will remain modest until new mining operations are expected to begin around 2020.
  • Northwest Territories— With the shutdown of production at the Snap Lake diamond mine, and weak drilling and exploration activity, no growth is expected in 2016.
  • Yukon—After three years of declining economic growth from 2013-2015, the territorial economy is expected to return to modest growth this year.

About Marie Christine

Marie-Christine is presently in charge of the medium and long-term provincial forecast and publication as well as the bi-annual territorial forecast and publication. She also works on financed research projects and prepares alternative scenarios to the provincial forecast. Marie-Christine obtained her B.A. and M.A. in economics from l’Université Laval.

About Elise

Elise Martin is an economist with the Provincial Outlook Group. Her responsibilities include monitoring and forecasting the economy of the province of Québec and British Columbia, as well as the Territories. Elise received an M.A. in economics from McGill University where she specialized in econometrics, and holds a B.A. in journalism from Université du Québec à Montréal.

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