Major City Insights: Hamilton—May 2021

The Conference Board of Canada, May 13, 2021
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In cities across Canada, economic recovery from the devastating impact of the COVID-19 pandemic depends largely on the vaccine rollout and containing the spread of the virus. The hardest-hit sectors of the economy—particularly those that depend on people gathering in public—will take longer to recover.

Document Highlights

  • Although Hamilton has been subject to stay-at-home orders along with the rest of Ontario in the first half of 2021, the city is forecast to turn a corner and see stronger real GDP growth over the next two years.
  • With vaccine rollouts ramping up in Canada, we believe enough of the population will be vaccinated by the second half of 2021 to allow restrictions to be reduced enough to spur greater economic activity.
  • Following a 5.3 per cent decline in 2020, real GDP in Hamilton is forecast to bounce back with 4.0 per cent growth in 2021 and 4.1 per cent in 2022.

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