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Canadian Outlook with the Chief Economist: Crude Dilemmas

The Conference Board of Canada, February 13, 2019
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Economic growth is expected to slow in 2019 compared to the previous two years, but that’s not the full account of the Canadian economy. Despite the signing of a new continental trade agreement, uncertainty remains for exporters thanks to a restless neighbour. The energy producing regions of the country are undertaking drastic steps to cope with low oil prices for their products. And the manufacturing sector is looking at the risk of further job losses and a pullback in investment.

With difficulties surrounding regional and national economies, only the Conference Board of Canada will deliver a detailed, consistent, high-quality economic outlook. Join us for this quarterly recorded webinar with Chief Economist Pedro Antunes to understand the forces that will affect decision-making.

Webinar Highlights

Going beyond the data and beyond the political rhetoric, this 60 minute recorded webinar provides you with analysis that only the Conference Board can provide.

Oil Spill: The 8.7 per cent reduction in oil production is announced by Alberta is bolstering prices in the short term, but it puts the provincial economy on a potential contraction course in 2019—which is bound to have implications both east and west of the Rockies because of strong trade and supply-chain linkages.

Trade Winds Blow Cold: The new NAFTA agreement is expected to ease uncertainty for Canadian exporters, but there is still concern that the agreement will struggle to pass the U.S. Congress. Furthermore, the Trump Administration shows no outward signs that it will relax tariffs on goods such as steel and aluminum.

Housing Crunch: A combination of rising interest rates, tightening regulation, weaker household spending and demographics will temper the growth outlook for the housing marketing through 2019 and 2020. However, prices are expected to stay high and affordability remains a concern.

About Pedro

As the Conference Board’s Executive Director, Economic Outlook and Analysis and Chief Economist, Pedro Antunes is responsible for managing a team of economists in producing the Conference Board's medium and long-term economic forecasts along with other economic indicators and reports. Pedro is a spokesperson for the Conference Board and does presentations on the forecast to clients and the public and is often cited in the media.

Pedro joined the Conference Board as an economist in 1991 after working with the Canadian Forecasting Group at the Bank of Canada. He has moved progressively into more senior positions since joining the Board. Prior to his current role, he was Director of the Conference Board's National and Provincial forecast team; and was responsible for custom research work and economic analysis.

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