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.
Industry Prospects Looking More Upbeat: Canada’s Two-Year Industry Trends Outlook
Industry Prospects Looking More Upbeat: Canada’s Two-Year Industry Trends Outlook
Canadian Economic Analysis
Industry Economic Analysis
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- Most of Canada’s primary resource sectors will see stronger growth over the short term, underpinned by solid global demand and higher commodity prices.
- Despite hitting a few speed bumps, Canada’s manufacturers will benefit greatly from a charged-up U.S. economy over the next two years.
- A consumer-led recovery bodes well for commercial services in the short term, especially with households expected to allocate more of their spending toward services that they had to frequently curb or forgo throughout the pandemic.
- Non-commercial services are steadily regaining their footing after being hit hard by the pandemic.
- Output in public administration will grow this year, then turn modest in 2022.
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