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Provincial Outlook Economic Forecast: Manitoba—Autumn 2018 The Conference Board of Canada, 62 pages, December 20, 2018 Report

Provincial Outlook Economic Forecast: Manitoba—Autumn 2018

The Conference Board of Canada, 62 pages, December 20, 2018
Report

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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 Economic growth will be moderate in the province over the forecast. Real GDP at market prices is set to grow at a compound average annual rate of 1.6 per cent from 2019 to 2023. Mining shutdowns will act as a major drag on the economy. Real business investment will grow substantially in 2019 but will take a hit as work begins to wrap up on the Keeyask hydroelectric generating station. Demand for agriculture products should strengthen as emerging market economies—most notably, China—increase their consumption of Manitoba products. Food manufacturing is a bright spot for the economic outlook as the province awaits the opening of Roquette’s new pea-processing plant and Simplot’s expansion of its operations in Portage la Prairie. Table of Contents RÉSUMÉ EXECUTIVE SUMMARY Manitoba Investment in Capacity Is Key to Long-Term Growth Consumer Outlook Investment Outlook Fiscal Outlook Key Industries Appendix A–Forecast Tables

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

Economic growth will be moderate in the province over the forecast. Real GDP at market prices is set to grow at a compound average annual rate of 1.6 per cent from 2019 to 2023.
Mining shutdowns will act as a major drag on the economy.
Real business investment will grow substantially in 2019 but will take a hit as work begins to wrap up on the Keeyask hydroelectric generating station.
Demand for agriculture products should strengthen as emerging market economies—most notably, China—increase their consumption of Manitoba products.
Food manufacturing is a bright spot for the economic outlook as the province awaits the opening of Roquette’s new pea-processing plant and Simplot’s expansion of its operations in Portage la Prairie.

RÉSUMÉ

EXECUTIVE SUMMARY

Manitoba

Investment in Capacity Is Key to Long-Term Growth
Consumer Outlook
Investment Outlook
Fiscal Outlook
Key Industries

Appendix A–Forecast Tables

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