From March 2026 PTDA Market Forecast Report
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U.S Economic Growth Expected to Remain Resilient in 2026
- U.S. economic growth is expected to remain resilient in 2026, driven increasingly by productivity gains as the labor force stabilizes and momentum from late-2025 activity carries into the new year.
- Interest rate relief may be on the horizon, with the Federal Reserve expected to hold steady in the near term before potentially cutting rates twice later in 2026 as inflation gradually eases.
Canada's Economic Growth Expected to Grow Modestly in 2026
- Canada's economy is expected to grow modestly in 2026, supported by new federal consumer benefits and stronger agricultural exports following a preliminary trade agreement with China.
- Canada's economic growth may slow early before regaining momentum, as trade uncertainty and demographic pressures weigh on the economy in early 2026, with improvement anticipated later in the year and into 2027 alongside renewed job growth and fiscal stimulus.
PTDA Member Markets Dashboard
| Market |
Phase of Business Cycle |
| U.S. Industrial Production |
Expansion |
| Canada Industrial Production |
Peak |
| Mexico Industrial Production |
Decelerating decline |
| U.S. Pulp, Paper & Paperboard Production |
Accelerating decline |
| U.S. Farm Machinery Shipments |
Accelerating growth |
| U.S. Iron & Steel Products Production |
Decelerating growth |
| U.S. Extraction (excluding oil & gas) |
Accelerating decline |
| North American Light Vehicle Production |
Decelerating decline |
| U.S. Electric Power Generation, Transmission, and Distribution Production Index |
Expansion |
| U.S. Oil & Gas Extraction |
Accelerating growth |
| U.S. Material Handling Equipment New Orders |
Decelerating decline |
| U.S. Industrial Machinery Production Index |
Accelerating growth |
| U.S. Food Production Index |
Expansion |
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