Provincial Outlook Executive Summary: Summer 2012
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
- The provincial outlook is less healthy looking
as easing growth in the global economy
dampens near-term economic prospects.
- The pullback in oil prices and the large oil
price discount that is burdening Canadian petroleum
producers could lower capital spending
plans going forward, hampering real GDP
- Despite negative headwinds in the global
economy and fiscal cut-backs at the provincial
and federal level, the regional outlook for now
remains largely positive for most provinces.
- A growing interest in developing the resource
sector in many areas of Canada will provide a
solid foundation for job creation and income
prospects over the forecast period.