Major City Insights: Regina—May 2021

The Conference Board of Canada, May 31, 2021
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In cities across Canada, economic recovery from the devastating impact of the COVID-19 pandemic depends largely on the vaccine rollout and containing the spread of the virus. The hardest-hit sectors of the economy—particularly those that depend on people gathering in public—will take longer to recover.

Document Highlights

  • Recovery from the effects of COVID-19 will boost Regina’s real GDP by 4.9 per cent in 2021, following last year’s 3.4 per cent decline.
  • Although this year’s improving economy should further bolster housing markets, lifting output growth in finance, insurance, and real estate, sectors such as accommodation and food services and the arts and entertainment industry will not reach pre-pandemic output levels until 2022.
  • The pandemic’s easing should lift employment by 1.9 per cent in 2021, but a full recovery in employment to pre-pandemic levels awaits next year’s expected 4.1 per cent employment growth.

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