Provincial Forecast

Get the latest Canadian economic forecasts to fully understand Canada’s provincial economic stance.

Canadian Economics   April 8, 2024

The underlying growth potential of Canada’s economy will come from three main sources: the number of people added to the population and more particularly the workforce; the amount and mix of capital used in production processes and the technological improvements adopted along the way; and outside global forces that affect trade flows and spending patterns.

Online experience  •  8-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

Price Check: Canadian Outloook

Canadian Economics   March 28, 2024

Economic conditions are playing out much as we have expected. Bank of Canada monetary policy is having its desired effect in cooling consumer and business spending and dialling down pressure on price levels. It is not a quick process, however, and the public’s patience will wear thin if more progress is not seen by mid-year.

Online experience  •  8-min read

Consumers Pull Back Spending After the Holiday Season: Index of Consumer Spending

Canadian Economics    March 26, 2024

In January inflation fell to 2.9 per cent from 3.4 per cent in December. As inflation continues to cool, the Bank of Canada will begin to shift focus to interest rate cuts. As interest rates lower and households’ financial positions improve, spending will accelerate.

Online experience  •  3-min read

Postings Slide Further in February: Canadian Hiring Index

Canadian Economics   March 21, 2024

As expected, this month’s data indicate a continued slowdown in the pace of hiring. In February, the Canadian economy added just over 40,000 jobs—an increase that was outpaced by labour force growth, resulting in a rise in the unemployment rate.

Online experience  •  8-min read

Consumer Confidence Sees Another Month of Growth: Index of Consumer Confidence

Canadian Economics   March 18, 2024

Consumers’ financial outlooks improved, likely influenced by news of weaker price gains as it was announced inflation cooled to 2.9 per cent in January. Although a small change, both current and future financial outlooks saw a decrease in pessimism this month. This could be a result of consumers expecting some respite from financial strain if interest rates are lowered in the near term.

Online experience  •  8-min read

Switching to Glide: Travel Markets Outlook

Canadian Economics   February 8, 2024

Canadians love to spend on travel and tourism. Even as dark clouds formed above the economy, this spending continued largely unabated for much of 2022 and into 2023. After being unable to travel for more than two years during the height of the pandemic, pent-up demand helped to set the pace of the tourism industry’s recovery.

Online experience  •  8-min read

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Reality Sinks In: Provincial Outlook

Canadian Economics   January 16, 2024

Against a backdrop of restrictive interest rates, provincial economies across the country are clearly showing the pressures. A range of major indicators, from retail sales to housing to business investment, are flat or pointing negative.

Online experience  •  8-min read

A Need to Shift Gears: Canada’s Outlook to 2045

Canadian Economics    January 15, 2024

Canada’s economy is beginning its path toward the next 20 years from a standing start. With zero growth through most of 2023 and into 2024, the nature of how well it can recover structurally will set the tone for Canada’s long-term prospects.

Impact paper  •  20-min read

Index Resumes Its Descent in October: Canadian Hiring Index

Canadian Economics   November 29, 2023

October’s results indicate a broad-based slowdown in labour demand. As businesses grow more cautious due to weakening demand for goods and services, hiring activity is slowing. The unemployment rate moved up to 5.7 per cent in October with labour force growth again outpacing employment growth.

Online experience  •  8-min read

Rocket launching into space

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

Sprinting to Surplus: Our Analysis of the Ontario Budget 2023

Canadian Economics    March 24, 2023

Despite the Ontario budget having the highest price tag for any provincial budget ever, the province’s revenue windfall means it will be ahead of schedule getting to surplus.

Commentary  •  5-min read

Pedro Antunes

Meet Our Expert

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 the Board’s economic products, including reports and economic indicators that relate to Canada and its regions and sectors.

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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

Right Idea, Wrong Timing? Our Analysis of Quebec’s Budget 2023

Canadian Economics    March 22, 2023

The Quebec Government issued Budget 2023 on Tuesday, putting forward tax cuts and additional spending at a time when inflation remains a concern.

Commentary  •  5-min read

two woman laughing, two woman talking, two people

Urban Growth

Canadian Economics    January 23, 2023

Toronto, Vancouver, Montréal, and Calgary are the biggest census metropolitan areas (CMAs) in Canada and have been major drivers of growth in the country. With a combined economic output of nearly $870 billion in 2019 (real 2012 dollars), their sheer size suggests that they’ve played an important role in shaping and driving the Canadian economy over time.

Issue briefing  •  15-min read

Canadian Industries are Writing a New Chapter: Industry Lens

Canadian Economics    January 20, 2023

As businesses across Canada embark on a new era, there are plenty of bright prospects across several industries in the Canadian economy. But which sectors will come out ahead?

Online experience  •  8-min read

Signs of Slowdown: Manufacturing Sales, Volumes Both Decline in August

Canadian Economics    October 14, 2022

Rapid interest rate hikes may finally be catching up. With the Bank of Canada’s overnight rate higher than it has been for over 14 years, it was only a matter of time before a slowdown came. The decline in manufacturing volumes in August may signal that that time has come.

Quick take  •  3-min read

Looking up a glass office building

The “Canadian Experience” Disconnect

Immigration    October 4, 2022

Canada has increasingly relied on international students and temporary foreign workers as future permanent residents over the last decade. The pandemic has further reinforced this trend. More immigrants with pre-admission work or study experience in Canada were admitted during the pandemic than in the preceding five years.

Impact paper  •  31-min read