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PRESS RELEASE – Economic Outlook: Analysis And Projections For Canada And Quebec

PRESS RELEASE – Economic Outlook: Analysis and Projections for Canada and Quebec

BDC---Economic-Outlook-Conference

Location: Courtyard Residence Inn, 7000, Place Robert-Joncas, Montreal, Quebec, H4M 2Z5

The West Island of Montreal Chamber of Commerce (WIMCC) hosted a special luncheon presenting a comprehensive analysis of the economic conditions in Canada and Quebec, highlighting key trends and forecasts for the coming year. Despite some uncertainties, indicators show encouraging signs for sustained growth.

This event was presented by Mr. Pierre Cléroux, Vice-President, Research and Chief Economist of the Business Development Bank of Canada (BDC), who shared his expertise and perspectives on economic developments.

Key Findings of the Analysis

  1. Economic Growth Amidst Uncertainty

Despite economic challenges, Canada and Quebec are expected to experience moderate growth. The end of the interest rate hike cycle and controlled inflation are positive factors for economic stability.

  1. Interest Rates and Inflation: A Restored Stability

The Bank of Canada has successfully stabilized inflation, now at 1.9%. This price control provides businesses with a favorable environment to plan and manage costs effectively.

  1. Consumption and Real Estate Market Recovery

Lower interest rates are expected to boost consumer spending and revive the real estate market. In 2025, Canadians are projected to increase their expenditures, supported by rising disposable incomes.

  1. Labor Market and Wage Growth

Quebec’s labor market remains tight, with an historically low unemployment rate of 5.4%. This situation is leading to wage increases that outpace inflation, thereby strengthening consumers’ purchasing power.

  1. Investment and Export Uncertainty

While lower interest rates encourage business investment, certain uncertainties persist, particularly regarding tariffs, which may dampen investment intentions and impact exports.

  1. Strategic Recommendations for Businesses

To successfully navigate this economic environment, businesses are encouraged to:

  • Improve productivity
  • Diversify international activities
  • Maintain strong financial health to withstand potential economic shocks
  1. Sectoral Opportunities to Watch

Quebec’s housing market and tourism sector are well-positioned for growth, driven by increased consumer spending and major investment projects, including Hydro-Québec’s expansion plans.

Conclusion

The economic outlook for Canada and Quebec remains cautiously optimistic. Growth will be driven by consumer spending and strategic investments. Businesses must adapt to evolving economic conditions and seize opportunities to ensure sustainable development.

For further information or interview requests, please contact:

Sophia Lavergne
General Manager
T  514.697.4228 ext 103
slavergne@ccoim.ca

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