Provincial Outlook Executive Summary: Autumn 2012
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
- The economic outlook remains more favourable for the Western provinces over the near term.
- Momentum is expected to build in key sectors in Atlantic and Central Canada, fuelling a gradual improvement in their economies over the next two years.
- Most provinces are feeling the weight of weaker mining commodity prices and revised production plans, but medium-term prospects are generally good for the mining industry.
- There are downside risks to the investment outlook at the regional level; resource companies could pull back or delay large capital expansion plans until the global economy picks up more steam.
- Apart from Saskatchewan, all provincial governments are implementing more austere fiscal spending plans.