Provincial Outlook Economic Forecast: Manitoba—Autumn 2019
The Conference Board of Canada, 23 pages,
January 10, 2020
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.
- Real GDP growth will ease to 0.9 per cent in 2019 and 0.7 per cent in 2020. However, a pickup is expected in 2021, with growth reaching 1.5 per cent.
- Weighing on economic growth, business investment has been hit hard in 2019 and will be again in 2020, as major projects have either wrapped up or are set to wrap up construction.
- The outlook for consumer spending is muted this year despite better wage gains.
- Rising global trade turmoil will weigh on growth in both agriculture and manufacturing sectors this year.