A Complicated Comeback: Canada’s Two-Year Industry Trends Outlook

The Conference Board of Canada, 16 pages, February 22, 2021
Issue Briefing
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This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on industry trends. For an overview of all major components of the economy, go to the Canadian Outlook main page.

Document Highlights

  • The outlook for primary industries in 2021 has improved.
  • Manufacturing faces a slow recovery as the world continues to battle COVID-19.
  • Stringent public health measures aimed at taming the sharp rise in COVID-19 cases will stretch out the recovery for some commercial services.
  • The pandemic will continue to be disruptive to non-commercial services over the near term.
  • Following extraordinary fiscal spending in 2020, government restraint will be the key theme for public administration beyond 2021.

Table of Contents

Key findings

Industry trends snapshot

Prospects improve for most industries in 2021

Mixed outlook for primary resources

Construction bounces back in 2020

Strong resurgence in COVID-19 weighs on manufacturing sector

Ongoing pandemic prolongs recovery for commercial services

Pandemic batters non-commercial services


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