Its Diversified Economy Will Help Manitoba Cope: Manitoba’s Two-Year Outlook

The Conference Board of Canada, 13 pages, March 18, 2021
Issue Briefing
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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

  • Manitoba’s economy will rebound and expand by 4.3 per cent this year following a 4.0 per cent decline in 2020.
  • The decline in economic activity during the pandemic has been less severe in Manitoba than in most other regions of the country, thanks in part to a more diversified economy that is less reliant on energy than those of the other Prairie provinces.
  • The recovery in economic activity this year will be led mainly by rising expenditures on services as the province gradually reopens.
  • The province is set to run a record-high deficit in fiscal 2020–21 due to the massive support required to fight COVID-19.
  • Manitoba’s exporters should benefit from easing trade tensions with the U.S. now that the less abrasive Biden administration is in office.
  • Table of Contents

    Key findings

    Manitoba snapshot

    Overview

    Employment

    Consumption

    Investment

    Key sectors outlook

    Methodology

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