This quarterly economic forecast for the province of Quebec examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Document Highlights
Quebec’s GDP growth will outperform the Canadian economy in 2021.
The economy will add almost 40,000 jobs in the final quarter of the year.
Meeting future labour demand will not be easily achieved given a low unemployment rate and weak labour force growth.
High inflation and labour shortages will create a drag on investment in machinery and equipment.
Quebec’s trade balance will improve over the forecast period, supported by growth in aerospace products and energy exports.
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