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.
Document Highlights
- Manitoba’s economy will rebound and expand by 4.3 per cent this year following a 4.0 per cent decline in 2020.
- The decline in economic activity during the pandemic has been less severe in Manitoba than in most other regions of the country, thanks in part to a more diversified economy that is less reliant on energy than those of the other Prairie provinces.
- The recovery in economic activity this year will be led mainly by rising expenditures on services as the province gradually reopens.
- The province is set to run a record-high deficit in fiscal 2020–21 due to the massive support required to fight COVID-19.
- Manitoba’s exporters should benefit from easing trade tensions with the U.S. now that the less abrasive Biden administration is in office.
