The Conference Board of Canada’s Provincial Economic Outlook suggests recovery from the pandemic is going to take longer than originally anticipated.
The Board’s Chief Economist, Pedro Antunes, says, ” Every province has incurred the wrath of COVID-19 with sharply negative growth this year.”
Some provinces have been affected more than others, but across the board, there is a long road ahead before fully returning to normal.

The forecast suggest the energy producing provinces of Saskatchewan, Alberta and Newfoundland and Labrador have had a double whammy, because of the collapse in world oil prices. Looking ahead to next year, Antunes expects the energy producers should recover as economic activity rebounds.

Economic growth in Saskatchewan is forecast to plummet 8.7 per cent this year, followed by a modest rebound of 4.7 per cent next year. Antunes says the economy has been hurt by difficulties in the mining sector, including the shutdown of several potash mines.