The pandemic is refusing to go away quietly, leaving an indelible mark on short- and long-term prospects for the provincial economies. The rebound in output and employment to their pre-pandemic highs is nearly complete, but the COVID virus’s nasty habit of morphing into new variants is keeping Canada from getting to the next stage—reclaiming lost economic potential.
Even in recovery, the economy is creating its own backwash. As consumers have diverted more of their spending from services to goods, the delicate balance of shipments worldwide has been overwhelmed, forcing prices up as a result.
Even as these effects settle in the longer term, buying and selling patterns will have been permanently altered worldwide, bringing a new set of opportunities and constraints to the marketplace.
- Newfoundland and Labrador
- Prince Edward Island
- Nova Scotia
- New Brunswick
- British Columbia