Major City Insights: Saguenay—July 2021

The Conference Board of Canada, July 23, 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.

This edition of Major City Insights provides our new forecast for growth in Saguenay as of June 3, 2021.

Comprend un lien vers l’article en français.

Document Highlights

  • Although many Quebec cities were under the province’s red alert level for much of the first half of 2021, Saguenay was mostly an “orange zone,” allowing restaurants and other non-essential businesses to remain open (albeit with restrictions to limit the spread of COVID-19), unlike in most of the province’s other cities.
  • With the province’s reopening plan now in motion, the city could see a return to economic activity that’s close to normal by the end of the third quarter.
  • After declining by 5.3 per cent in 2020, real GDP is forecast to expand by 5.4 per cent in 2021, helped by the rapid delivery of vaccines and Quebec’s reopening plan.
  • Employment will surpass its pre-pandemic level in the third quarter, supported by a strong recovery in the services industries that have been slowest to reopen. On the other hand, employment in the goods-producing industry won’t fully recover for the next few years.

Faits saillants

  • Translation to come…

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