Manufacturing And Housing Demand Will Lead Economy


Canada's manufacturing and housing sectors will lead the economy out of a recession, says a report by RSM Canada. Rising consumer expectations coinciding with new manufacturing orders shows great economic possibility, says the report. The manufacturing of Canadian energy products continues to show significance for the economy as energy products account for 21.9 per cent of Canada's total exports to the United States. Additionally, housing demand will likely continue as Millennials become the backbone of consumer demand and the workplace. "Canada's manufacturing sector has almost singlehandedly pulled the country out of recession in recent months and this strong performance, coupled with promising signs from other areas such as real estate and energy, suggests that better days are ahead for the economy," says Alex Kotsopoulos, partner, projects, and economics with RSM Canada. Furthermore, Toronto, ON, and Vancouver, BC, are proving resilient despite adverse economic conditions in the business technology, media, and entertainment sectors.