Provincial Outlook Executive Summary: Winter 2010
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
- British Columbia will finish first this year, boosted in part by
the Winter Olympic Games and a recovery in the decimated
- Ontario is forecast to outpace the national average for the first
time in nearly a decade in 2010. The provincial economy has
been picking up speed over the last few months.
- Quebec will experience only modest economic growth over the
next two years, as the aerospace industry continues to suffer
and public infrastructure stimulus winds down.
- The Maritime provinces, along with Manitoba, will post real
GDP growth of 2 per cent or less in 2010. These provinces did
not falter as much during the recession.
- New potash sales early this year will kick off the recovery in
- Alberta’s energy sector is set to bounce back, while the
resource sector will fuel a rebound in Newfoundland and
Labrador, as both provinces emerge from the recession.