Provincial Forecast
Get the latest Canadian economic forecasts to fully understand Canada’s provincial economic stance.
Provincial 5-Year Outlook
Canadian Economics June 24, 2025
Despite easing inflation and less restrictive monetary policy, provincial growth prospects for 2025 have been dampened by trade disruption with both the United States and China. A flurry of tariff announcements has muddied the waters and while many of the eye-catching tariff threats by the U.S. administration have since been paused or scaled back, they continue to weigh heavily on business confidence. The erosion of sentiment among businesses will take time to recover, resulting in weaker hiring and investment appetite in the near-term.
Online experience • 8-min read
Index of Consumer Confidence for May 2025
Canadian Economics June 17, 2025
Ongoing uncertainties in the geopolitical landscape continue to pose risks, however. While the easing of certain trade tensions may offer some relief, the broader geopolitical uncertainties, including potential retaliatory measures and policy reversals, continue to pose risks that could impact Canadian key economic sectors.
Online experience • 8-min read
Index of Consumer Spending for April 2025
Canadian Economics June 17, 2025
Economic uncertainty remains elevated and will shape consumers’ spending choices in the near-term. Although Canada was spared from the higher tariffs initially announced by The White House, the ongoing trade war has fogged the timeline for further rate cuts by the Bank of Canada.
Online experience • 8-min read
Canadian Hiring Index for May 2025
Canadian Economics May 26, 2025
Hiring activity remains muted. While the U.S. administration’s rhetoric on trade has been eye-catching, many announcements have subsequently been paused or dialled back, allowing room for negotiation – but where tariffs have been implemented, including in the automotive sector, job losses have followed and hiring activity in manufacturing remains notably weak.
Online experience • 8-min read
Canadian 5-Year Outlook
Canadian Economics April 28, 2025
Heading into 2025, the Canadian economy was rounding the corner as interest rates came down. Real GDP expanded 2.4 per cent in the final quarter of 2024, spearheaded by gains in household spending and business investment as the Bank of Canada’s interest rate cuts during the second half of the year began to have an impact.
Online experience • 8-min read
Canada’s Five-year Travel Market Outlook: Toward New Milestones
Canadian Economics April 23, 2025
Tourism in Canada is on the verge of a critical milestone. Inbound visitation from the United States and overseas will fully recover in 2025, even as new challenges threaten to stand in the way. As global financial conditions ease, economic growth will also pick up in many of Canada’s tourism source markets, propelling inbound tourism traffic beyond its pre-2019 level.
Online experience • 8-min read
Provincial Outlook to 2045
Canadian Economics April 8, 2025
The long-term economic growth potential of Canada’s provinces is guided by the availability and productivity of labour and capital. These factors form the foundation of long-term economic performance, which is further shaped by trade dynamics. Canada’s small, open economy means international and interprovincial trade of goods and services plays an important role in driving economic growth.
Online experience • 8-min read
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Pushing the Boundaries: Canada’s Outlook to 2045
Canadian Economics March 5, 2025
Canada’s economy will need to navigate a long sequence of challenges over the next 20 years. Demographic shifts will lead to gaps in the labour market and put pressure on government finances. The march toward lower greenhouse gas emissions will limit investment in Canada’s abundant oil and gas sector. Meanwhile, climate and geopolitical risks will remain escalated, adding another threat to the country’s long-term prosperity.
Online experience • 8-min read
Positive Job Print Ends Rollercoaster Week
Canadian Economics February 7, 2025
The economy continues to churn out jobs, a welcome signal of resilience and recovery. A third consecutive monthly employment increase and weaker labour force growth together helped to reduce the unemployment rate, a trend we expect to continue given the weaker outlook for population growth.
Quick take • 2-min read
December Delivers: Risks Loom, but Jobs Stay Strong
Canadian Economics January 10, 2025
Today’s Labour Force Survey (LFS) results for December complete a year in which Canada’s labour slackened amid weakening labour demand and strong labour force gains underpinned by surging international migration. Over 2024, the unemployment rate rose from 5.7 per cent in January to 6.7 per cent in December.
Quick take • 2-min read
Unemployment Rate Rises as Job Seekers Left Out in the Cold
Canadian Economics December 6, 2024
In 2024, Canada’s labour market continued to cool as employment struggled to keep with pace with robust labour force gains. The unemployment rate is on track to average 6.3 per cent in 2024, above the averages of 5.3 and 5.4 per cent recorded in 2022 and 2023, respectively.
Quick take • 3-min read
Jaded in July: Labour Force Contracts and Jobs Flatline
Canadian Economics August 9, 2024
In July, employment in Canada was little changed on the previous month, marking a third consecutive month of stagnant job growth. The size of the labour force fell by 11,000, the first contraction since June 2022. This decline was fuelled by lower labour force participation among young men and women. Meanwhile, the unemployment rate remained unchanged at 6.4 per cent.
Quick take • 3-min read
Summer Sunshine Fails to Reach the Labour Market in May
Canadian Economics June 7, 2024
The economy has now added a monthly average of 39,000 jobs over the first five months of the year, a respectable pace given the headwinds caused by high interest rates. However, these gains pale in comparison to the growth of Canada’s working age population, which this year has grown at a searing pace of over 100,000 per month, or, in annualized terms, 3.7 per cent.
Quick take • 2-min read
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Pedro Antunes, Chief Economist
Pedro Antunes is the Chief Economist and primary spokesperson at The Conference Board of Canada. He provides insights and general direction for CBoC’s economic products, including reports and economic indicators that relate to Canada and its regions and sectors.
Stuck in a Holding Pattern? Travel Markets Outlook
Canadian Economics October 3, 2024
For an industry that’s desperately seeking a return to normal, the year ahead will remain atypical. Canada’s tourism operators continue to face off against the incomplete recovery of international visitors and a domestic market that is financially constrained.
Online experience • 8-min read
April Showers Didn’t Dampen the Labour Market
Canadian Economics May 10, 2024
In a weaker business environment, hiring across the economy has slowed. April was an exception to generally softer labour demand, but the fundamentals so far in 2024 remain on the weaker side. Rising labour supply and falling demand is reducing tightness in the labour market. Lower competition for workers is gradually weighing on wage growth, which we expect to decelerate further over the coming months.
Quick take • 3-min read
Chill Lingers in the Labour Market as Winter Recedes
Canadian Economics April 5, 2024
Little excitement as torpor prevails in Canada’s labour market. In the face of high interest rates, firms are navigating lower demand for goods and services. Hiring in the economy has slowed and weaker labour demand is translating into subdued employment growth.
Quick take • 3-min read
Launching Canada’s Space Sector: Economic Impact of Spaceport Nova Scotia
Canadian Economics May 16, 2023
Canada’s first commercial spaceport—Spaceport Nova Scotia, a world-class facility to place satellites into polar and sun-synchronous orbits—is on track to be sited in Nova Scotia. It will be the first commercial launch complex in Canada. The satellites placed from here will lead the world in environmental monitoring, earth observation, imaging, broadband, and telecommunications.
Data briefing • 19-min read
Clean and Green but Not Very Lean: Our Analysis of the Federal Budget 2023
Canadian Economics March 29, 2023
With the fiscal shadow of the COVID-19 pandemic fading into the background, the federal government is now repositioning itself to address some of the structural issues ahead.
Commentary • 12-min read
The Economic Impact of the COVID-19 Pandemic on Indigenous Tourism Businesses in Alberta
Indigenous & Northern Communities May 19, 2023
Based on the revised inventory, our findings indicate that at least 202 entrepreneurs and organizations participate in Alberta’s Indigenous tourism sector. These industries account for more than 30 Indigenous businesses and more than 75 per cent of all businesses. The gaming industry accounts for only five businesses, but most of them are significant employers.
Data Briefing • 10-min read
