Manitoba’s Economy Can’t Escape a Second-Wave Hit: Manitoba’s Two-Year Outlook—December 2020
The Conference Board of Canada, 11 pages,
January 11, 2021
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.
- Manitoba coped relatively well during Canada’s first COVID-19 wave earlier in 2020, but the province is facing challenges with the resurgence of cases and the reinforcing of restrictions.
- The province’s real GDP, with a softer growth rate than that of the national economy, is expected to fall by 6.2 per cent in 2020, but it will gain 3.5 per cent in 2021.
- Manitoba, with its relatively diverse labour market, will see employment fall by a comparatively mild 3.2 per cent in 2020 and then rebound by 3.6 per cent in 2021.
- The robust agriculture sector will rise by 0.6 per cent in 2020 and by 1.9 per cent in 2021. Meanwhile, the struggling manufacturing sector’s output will drop by 9.6 per cent in 2020 and then increase by 6.0 per cent in 2021.
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