Three things to take away
What is the outlook for the Canadian manufacturing sector – and how is the geopolitical and economic landscape impacting growth
What are the major risk areas for manufacturing firms in 2024
What can Canadian firms do to mitigate risk, address skills shortages and promote growth
Volatile macroeconomic and geopolitical conditions present growing challenges for the Canadian manufacturing sector. Inflation brought a rapid tightening of monetary conditions, which is likely to dampen both economic activity and manufacturing demand into 2024.
Nonetheless, opportunities abound for the sector. Increasing US competition with China is driving reshoring and supply chain integration throughout North America. Concerns over climate change have caused both the US and Canada to pass fiscal incentives for clean energy technologies, presenting major opportunities for Canadian manufacturers.
What is the outlook for the Canadian manufacturing sector – and how is the geopolitical and economic landscape impacting growth
What are the major risk areas for manufacturing firms in 2024
What can Canadian firms do to mitigate risk, address skills shortages and promote growth
Volatile macroeconomic and geopolitical conditions present growing challenges for the Canadian manufacturing sector. Inflation brought a rapid tightening of monetary conditions, which is likely to dampen both economic activity and manufacturing demand into 2024.
Nonetheless, opportunities abound for the sector. Increasing US competition with China is driving reshoring and supply chain integration throughout North America. Concerns over climate change have caused both the US and Canada to pass fiscal incentives for clean energy technologies, presenting major opportunities for Canadian manufacturers.
Building Supply Chain Resilience
Understand and manage risk in your supply chain
More like this
Sign-up to be notified about future articles from the Sector Resilience Series, and other thoughts, reports or insights from QBE.
Subscribe now
