RBC releases economic forecasts for each provinceJune 22, 2021
Predicting with optimism that “the other side of the valley is in plain sight,” RBC has updated its economic forecasts for each province. Provinces are seeing “rapid progress” in reopening, and economic indicators are picking up as industries formerly burdened by COVID-restrictions bounce back.
Strong growth is expected throughout the country, with RBC predicting that growth rates will hit 6.3% nationwide. That would be a 50-year-high and an abrupt turnaround from the 5.3% contraction that came in 2020.