Provincial Outlook Economic Forecast: Manitoba—June 2020
The Conference Board of Canada, 15 pages,
June 17, 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.
- The collapse in household spending in the second quarter of this year will lead to a decline of 4.5 per cent in real GDP growth for 2020.
- The service sector will bear the brunt of the pain due to the numerous closures in the food and accommodation industries and in the arts, entertainment, and recreation sector.
- As the economy gradually reopens over the summer months, economic activity will start to recover in the second half of this year, laying the foundation for the economy to rebound by 6.0 per cent in 2021.
- Exports have been hurt by the slump in global trade linked to the virus and by ongoing trade tensions between Canada and China.
Table of Contents
Manitoba’s pork producers dealing with multiple setbacks