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2023 Wildfires: Now That the Initial Economic Shock Is Over, It’s Time to Rebuild the Forest

October 30, 2023
Florence Jean-Jacobs
Principal Economist

Although Canada’s wildfires have mostly died down and left the headlines, their repercussions on the lumber supply may be felt for many months and even years to come. This note looks at this year’s unprecedented wildfire season and how it’s affected the economies of Quebec and Canada as a whole. So far, the overall impact has been limited and fleeting, even though the wildfires took a heavier toll on some regions and sectors (such as sawmills and mining) than others. We’ll also discuss the medium- and long-term effects on lumber inventories and the forest industry, which was facing economic uncertainty even before the fires broke out.