Tough Times … but It Could Be Worse: Manitoba’s Two-Year Outlook—September 2020
The Conference Board of Canada, 13 pages,
September 29, 2020
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.
- Manitoba has been mostly successful in managing the COVID‑19 pandemic, despite a recent upswing in cases.
- We expect provincial GDP to fall by 5.8 per cent in 2020, a modest drop by national standards, and rebound by 5.0 per cent next year.
- Manitoba’s job market has fared better than the national average. We expect employment in the province to fall by just 1.9 per cent this year, compared with a 5.7 per cent drop at the national level.
- The agriculture industry will expand by 4.9 per cent in 2020, but manufacturing will contract by 10.8 per cent and mining output will plunge 22.4 per cent.
Table of Contents
It could be even worse