Provincial Outlook Executive Summary: Spring 2013
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
- Uneven economic growth is expected across Canada this year, with four provinces—Newfoundland and Labrador, Alberta, Saskatchewan, and Manitoba—growing faster than the national average.
- While the economic prospects for Western Canada remain positive, an uncertain outlook for commodity prices and elevated development costs in the resource sector have led to some expansion projects being postponed.
- Next year, most of the lagging provinces will experience better economic growth that will more closely match the national average.
- Fiscal austerity measures will continue to weigh on economic growth in most provinces. Just a few provinces are expecting balanced budgets this year.