06/15/2026
The Steinbach Chamber of Commerce was pleased to host an economic outlook event in partnership with BDC, featuring Chief Economist Pierre Cléroux. Attendees gained valuable insight into the current economic landscape and the factors shaping the business environment across Manitoba and Canada. Pierre highlighted that economic growth is slowing due to population declines and the impacts of tariffs, with Manitoba experiencing significant job losses in both manufacturing and education. He noted that interest rates are expected to remain relatively stable over the next year, while housing prices continue to rise despite a softer housing market. He also emphasized that upcoming CUSMA negotiations and global geopolitical events, including tensions affecting oil markets, will have implications for Canadian businesses.
Despite these challenges, the outlook for Manitoba remains positive. Pierre shared that the province’s diverse economy is expected to support continued resilience, with real GDP projected to grow by 1.4% in 2026. He encouraged businesses to view the current period of uncertainty as an opportunity, noting that major structural changes are creating new avenues for growth and innovation. A key theme of the presentation was the importance of digital adoption, which can help businesses improve productivity, efficiency, and competitiveness. He also pointed to significant public- and private-sector spending across Canada that is expected to drive economic activity and create opportunities for businesses in the years ahead.
