Heading into 2018 the Manitoba economy will maintain its level of steady growth but will slip back to the middle of the pack in relations to growth in other provinces. As its two prairie neighbours rebound from a deep trough caused by the collapse of commodity prices in the carbon based sector as well as the potash industry, the diversified and stable Manitoba economy continues to make headway and is expected to stay among the provincial leaders.
With GDP growth of just over 2% in 2017, and continued growth of just under 2% forecast for 2018, Manitoba will continue to secure its reputation as a steady performer. The Conference Board has forecast that Manitoba will see strong performance in the construction sector, a rebound in agriculture and stable domestic demand to lift the labour markets and increase disposable income.
But the variables are many and diverse; what will be the impact of climbing interest rates? What will be the impact on the export economy and manufacturing of the rapid rise in the Canadian dollar. Is the Winnipeg real estate market moving into bubble territory and may we see a correction? Where will the loonie land with the global turmoil based on shifting landscape in the European Community and the wildcard that is the US administration, what will the impact of all these geopolitical shifts be on the province’s export economy or tourism? And long term, what does Manitoba’s demographic picture look like and what is coming.
The Conference Board of Canada, The Winnipeg Chamber of Commerce are pleased to present the third annual Western Business Outlook Conference in Winnipeg November 7th, 2017. The conference will provide a forum to discuss the questions posed and present the Conference Board’s forecast into 2018 and beyond.
Led by Senior Vice President and Chief Economist Craig Alexander, the Western Business Outlook will provide Manitoba business leaders and policy makers a deep dive into the numbers underpinning the economy, from a global, national, provincial and metropolitan perspective.
Coupled with a lively panel discussion with some of Manitoba’s leading business people, and a keynote address, the Western Business Outlook promises to be the premier economic forecasting event in the province this year.
Mark your calendar now for November 7th and don’t miss the premier economic forecasting event for 2018.
The details of this event are subject to change. Please revisit this page periodically for updated information.