Canadian Economic Outlook – What the experts are predicting
Canadian Economic Outlook – What the experts are predicting
As the year comes to a close, many Canadians are asking questions on the Canadian economy in 2026. Deloitte has released their report, sharing insights on what they believe it may look like – highlights below:
Canada’s economy could be headed towards a rebound according to Deloitte’s experts, with one essential element that needs to remain. The country must maintain our key exemptions from the United States tariffs. While sector specific tariffs remain impacting manufacturing industries, Canada is facing low overall average tariffs compared to other countries thanks to CUSMA exemptions. This agreement could be a key factor in the groundwork required for Canada’s export markets to do better in 2026.
With a softening labour market and the slow of immigration, Deloitte predicts little population growth, impacting both consumer consumption levels and growth in the labour force. With both elements softening, we should not see unemployment rates move much higher in 2026 (2025 marks the highest employment rates since 2016 at 7.1%).
The housing market has been struggling to recover from the bank of Canada’s raising interest rates since 2022. However, on the other side of this struggle – transaction volumes are below their norms, and there is demand built up. Deloitte expects to see some of this demand flow into resale markets in 2026 as lower interest rates and a pickup in hiring support firmer housing sales.
Overall, the economic outlook for Canada in 2026 is proving to be complicated, even to dedicated experts. Factors such as unknown tariffs and trades circumstances mean that a swift change could produce many different economic paths. One positive, however, is that as answers continue to come to the forefront, clarity in either direction on this issue with allow businesses to better make decisions about their investments and futures – a hopeful motion forward to what feels currently like limbo.
To read Deloitte’s full report,
click here.
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Sexton Group Ltd., 1345 Kenaston Blvd, Winnipeg, Manitoba, R3P 2P2
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