EFC’s 2026/27 Economic Forecast: Insights on Navigating an Evolving Economy

Economic uncertainty, shifting trade dynamics, and growing electricity demand are creating a complex outlook for Canadian businesses as they plan for 2027 and beyond.

EFC’s annual Economic Forecast Webinar brought members together to hear perspectives from Maureen Farrow, President of Economap Inc., and Donald R. Leavens, Ph.D., SVP & Chief Economist, NEMA, on the economic forces shaping Canada, global markets and the electrical industry.

Farrow highlighted an increasingly complex global outlook shaped by trade tensions, geopolitical uncertainty, commodity-driven cost pressures and evolving monetary policy. For Canada, she emphasized the importance of strengthening economic resilience through trade diversification, major infrastructure and resource projects, productivity improvements and new investment.

She also pointed to AI, data centre development and growing electricity requirements as important drivers of future economic activity. At the same time, affordability pressures, high household debt and uneven regional growth continue to create challenges for the Canadian economy.

Leavens brought a North American electrical industry perspective to the discussion, examining the economic and market forces influencing the sector. His outlook explored trends in U.S. domestic demand, industrial investment and construction, as well as the influence of data centre development and grid investment on the electrical equipment market.

Together, the presentations highlighted an environment in which economic and geopolitical uncertainty is occurring alongside significant investment requirements and new sources of electricity demand. Electrification, infrastructure development, data centres, and grid modernization are among the forces creating longer-term opportunities for the electrical industry, even as businesses navigate changing trade conditions, costs and investment patterns.

For EFC members, understanding these intersecting economic and industry trends can help inform business planning and provide greater context for the market conditions ahead.

EFC thanks ABB for sponsoring the 2026 Economic Forecast Webinar and supporting access to timely economic and industry insights for the EFC community.

For registered attendees: If you missed the live session or would like to revisit the discussion, the webinar recording and presentation materials are now available.