COVID-19

Implications for Canada and the economic impact

Updated  April 1, 2020

Things are changing quickly, and an evidence-based perspective on coronavirus is essential.

This site is our go-to resource for insights and analysis on COVID-19. Here, we bring you quick-read articles based on our multi-disciplinary research. Each article gives you a fact-based understanding of the complex issues impacting you and your organization.

Check this space often for the latest updates, data, forecasts, research on the growing spread of coronavirus, and useful tools that will help you and your organizations navigate these challenging times.

 All resources listed on this page are free.

Message from the CEO

Here at The Conference Board of Canada, we have made the decision to give all Canadians access to our up-to-date and timely economic reports during this global pandemic. In times of crisis it is important we do what we can to help one another. Please make use of our additional free resources such as webinars, informative blogs, and a special mental health COVID video series.

We continue to deliver our unique, unbiased insight into Canada’s toughest problems so leaders can make informed decisions. As we move through these uncertain times, we are also innovating our research and products to respond to new challenges and to re-build an even stronger Canada.

Susan Black

Dr. Susan Black, CEO

The Conference Board of Canada

Daily updates

The Conference Board of Canada stands ready to provide Canadian leaders with the insights they need to confidently navigate the shifting realities of COVID-19.

Free resources

General inquiries

1-866-711-2262

Media inquiries

E-mail media
1-866-242-0075

Event inquiries

E-mail registrar

Videos

Mental health and COVID-19

Join the conversation with Dr. Bill Howatt, Chief of Research, Workplace Productivity

The contents of these videos is provided for general information only. It is not, nor is it intended to be, a substitute for professional medical advice. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition.

Recorded webinars and interviews

Economic impact

Updated Canadian economic forecast

Canada’s economic growth ground to a halt in the fourth quarter of 2019. With the economy already on precarious footing, the added shocks of the recent rail blockade protests, the arrival of COVID-19, and a collapse in oil prices have brought the country to the brink of recession.

The Canadian economy grew by just 0.3 per cent in the fourth quarter of 2019, its weakest performance since the second quarter of 2016. The sluggishness was the result of declines in business investment and exports, which were only partially offset by continued strength in consumer spending.

Now, with the economy being hit by a slew of additional shocks, we expect business investment and exports to post substantial declines and consumer spending to ease. As a result, economic growth will contract by a projected 2.7 per cent in the second quarter. However, growth should resume in the third quarter, allowing the economy to avoid a technical recession. Unfortunately, there are huge downside risks to our outlook due to the unpredictability of the coronavirus pandemic. Overall, we expect growth of just 0.3 per cent in 2020 followed by a rebound to 2.5 per cent growth in 2021.

Canada teeters on the brink of recession

(real GDP growth, per cent)

2017 18 19 20f 21f 22f 23 24f 0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 Forecast

f = forecast
Sources: The Conference Board of Canada; Statistics Canada.

Consumer confidence plummets as COVID-19 fears spread

The Index of Consumer Confidence fell 32.0 points in March, the largest monthly decline ever.

Canadians are anxious about the coronavirus. This has implications for Canada’s economy given that consumers have been the main engine of economic growth. With people being encouraged to self-isolate, large gatherings being mostly cancelled, and tourism activity drying up, many Canadians are staying home, which will have a profound impact on economic growth.

There were no positives in this month’s survey—every region saw a double-digit decline in confidence and every question saw a significant weakening in responses.

Index of consumer confidence

(2004 = 100)

2014 2015 2016 2017 2018 2019 2020 79 84 89 94 99 104 109 114 119 124 129

Source: The Conference Board of Canada.

Safety of our people

Safety is of paramount importance to us. We are putting our employees, customers, and the community first, and are doing our part to help limit the spread of the COVID-19 virus. As of Friday, March 13, 2020, The Conference Board of Canada’s employees will be working remotely until further notice.

Our business operations are ongoing and we will continue to provide timely research, data, and insights to help you and your organization navigate through these unprecedented times. We also remain available for customer and media inquiries via e-mail and telephone.

Woman working on laptop in her kitchen; laptop closeup

Latest news

Current insights

Available research

 All resources listed below are free.

Webinars

 All resources listed below are free.

COVID-19 and our events

We have been closely monitoring the COVID-19 outbreak. The well-being of our event attendees remains our primary concern.

Currently, we are exercising caution and taking advice from the relevant authorities. As a result, we will be postponing or cancelling select events. If you are already registered for an event, you will receive an e-mail with revised details.

Event Date Status New date
Quebec Regional Sounding Mar 25 Postponed Coming soon
Mental Health in the Capital 2020 Mar 31–Apr 1 Postponed Mar 30–31, 2021
Charting progress: Navigating psychological safety in the workplace (Mental health workshop) Various dates Postponed Coming soon
British Columbia Regional Sounding Apr 7 Postponed Oct 27
Value-Based Healthcare Canada: Second Summit Apr 21–23 Postponed
Canadian Immigration Summit 2020 May 13–14 Rescheduled May 26–27, 2021
Strategic Foresight Workshop May 26–28 Postponed
Sustainable Finance | Clean Energy May 28 Cancelled
The Next Recession Conference Jun 17 Cancelled
Better Workplace Conference 2020 Nov 9–10 Unchanged
Indigenous STEM pathways: 2021 and beyond May 2021 Cancelled

FAQs

If your event is postponed

What if the new dates don’t work for me?

Your ticket will be transferable within your company. Should no one be available to attend, we can apply a credit to your account.

Will the agenda be the same?

COVID-19 will impact every facet of Canadian society. As always, The Conference Board of Canada will convene the most relevant experts to explore the current Canadian context. We will update the agenda and topics as we confirm availability with our speakers.

Will be accommodation be affected?

We are currently negotiating a partnership for accommodation.

If your event is cancelled

When can I expect my refund?

Please allow 30 days for us to refund your fees.

How will I know when my refund has been processed?

All registrants will receive an emailed refund notification including the refunded amount.

From our partners at Conference Board Inc.

 All resources listed below are free.

Additional resources

As an evidence-based organization, we know how important reliable information is. We have created a list of additional credible sources for COVID-19 updates and information.

Woman with clasped hands in front of her mouth reading from her laptop; hands holding a smartphone

The spread of the novel coronavirus disease (COVID-19) has created uncertainty in all global markets. We’re doing our best to provide timely updates, but information can fall out of date quickly. The Conference Board of Canada reserves the right to adjust content as necessary. Any errors or omissions in fact or interpretation are the responsibility of The Conference Board of Canada.