Edmonton leads 2021 rebound, Toronto’s growth more moderate
Canadian metros are rebounding strongly in 2021. We expect every metro to surpass their pre-pandemic GDP levels by the end of this year. We estimate that Edmonton has grown the fastest, at 11.2% for 2021 overall, whereas Toronto has underperformed the metro average with 5.6% GDP growth.
What you will learn:
- These increases are despite a third wave of Covid-19 in April and another wave ongoing. Differing provincial lockdown measures are playing key roles in each metro’s path to recovery.
- The fastest growing metros (Edmonton and Calgary) are in Alberta, where most restrictions have been lifted, and the slowest growing metro (Winnipeg) is in Manitoba, which had the most stringent restrictions for much of the summer.
- In the medium term, we expect government support for the oil industry and high global demand for oil to cause Calgary and Edmonton to lead all metros in GDP and employment growth.
{% video_player “embed_player” overrideable=False, type=’scriptV4′, hide_playlist=True, viral_sharing=False, embed_button=False, autoplay=False, hidden_controls=False, loop=False, muted=False, full_width=False, width=’1920′, height=’1080′, player_id=’57930919003′, style=” %}
Tags:
Related Services
Post
Food prices to bottom out in 2024, risks skewed to upside
Our baseline forecast is for world food commodity prices to register an annual decline this year, in aggregate, reducing pressure on food retail prices further downstream. However, we believe the risks to this forecast are overwhelmingly skewed to the upside.
Find Out MorePost
Battery raw material prices to recover
Battery raw materials prices bottomed out last quarter and we think a sustained recovery is looming. Midstream EV battery manufacturing activity has picked up again and inventories have returned to historical levels, suggesting upstream demand for raw materials will also bounce back.
Find Out More