Major City Insights, Book 2: Economic recovery in sight after turbulent year

The Conference Board of Canada, July 13, 2021
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Climbing vaccination rates mean cities across Canada are poised to bounce back from COVID-19-induced recessions this year. Hot housing markets and pent-up demand for in-person shopping, eating in restaurants, and travel will all help fuel the economic recovery.

>Book 2 focuses on the metropolitan economies of Abbotsford–Mission, Greater Sudbury, Guelph, Kingston, Kitchener–Cambridge–Waterloo, London, Moncton, Oshawa, Saguenay, Saint John, Sherbrooke, St. Catharines–Niagara, St. John’s, Thunder Bay, Trois-Rivières, and Windsor.

Document Highlights

  • Vaccines and the easing of pandemic-related restrictions will support economic recoveries of 6.3 per cent or more in Guelph, Abbotsford–Mission, London, and Sherbrooke in 2021.
  • The Kitchener–Cambridge–Waterloo area, Kingston, and Thunder Bay will be close behind, with real GDP growth of 6.1 or 6.2 per cent this year.
  • After being hammered by the COVID-19 pandemic last year, Windsor, St. John’s, Oshawa, Saguenay, and St. Catharines–Niagara are forecast to see their real GDP bounce back by between 5.4 and 5.8 per cent in 2021.
  • Economic growth in Moncton, Sudbury, Trois-Rivières, and Saint John is set to rebound by between 5.0 and 5.3 per cent this year as the rollout of vaccines gradually allows economic activity to pick up.

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