The economic outlook for Canada’s three territories is weak in the short term. The slump in mineral and metal prices and difficulty in getting financing have led to mine shutdowns and new developments being put on indefinite hold. Real economic growth across the territories is expected to average just 1.8 per cent over the 2016 to 2020 period. Public sector investment in infrastructure will help the territorial economies over the near term.
The mining sector, however, is cyclical. As commodity prices start to recover, the outlook is expected to improve for the territories by the early 2020s. Real GDP growth will average 3 per cent in the 2020–30 period as new mining projects start producing before the end of the decade in all three territories.
This mix of uncertainty and promise in the territories means that you need the most comprehensive economic forecast available. The Conference Board’s unique Territorial Forecasting Model provides an economic and fiscal outlook for each of the territories.
Join two Conference Board economists for the details of the recently-released Territorial Outlook—Summer 2016. Pedro Antunes, Executive Director, Forecasting and Analysis and Deputy Chief Economist, will set the Canadian and international context for the territorial outlook. Marie-Christine Bernard, Associate Director, Provincial and Territorial Outlook, will deliver the economic outlook for Nunavut, the Northwest Territories, and Yukon through the year 2030.