Major City Insights: Halifax—Autumn 2021
The Conference Board of Canada,
October 5, 2021
Thanks to COVID-19 vaccines and reduced public health restrictions, economic momentum in major cities across the country is building. Vaccine passes will help to prevent new restrictions, but the presence of variants is still a downside risk to our outlook.
- Although Halifax’s economic recovery was stalled in the spring by the third wave of the pandemic, activity rapidly picked up once the province entered its five-phase reopening plan in June, unleashing pent-up demand for recreation and travel services.
- Following a decline of 1.9 per cent last year, Halifax’s real GDP is expected to rebound by 5.7 per cent in 2021 and 3.5 per cent in 2022.
- With the fourth wave of the pandemic hitting the Maritimes, Nova Scotia delayed moving into the last stage of its reopening in mid-September (which would have removed mask mandates and gathering limits) and introduced a proof of vaccination requirement to go to restaurants, bars, concerts, movies, and fitness clubs starting in October.