Provincial Outlook Executive Summary: Winter 2016
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
- Only four provinces are expected to see their economy grow by more than 2 per cent this year—British Columbia, Ontario, Manitoba, and Nova Scotia.
- The slump in mineral and oil prices will continue to weigh on economic prospects of resource-dependent provinces.
- Alberta is facing another recession this year as cuts in energy investment and job losses hit the economy hard.
- Saskatchewan, battered by falling oil prices that sent the province’s economy into recession last year, is facing modest economic growth this year.
- Quebec’s economy is unlikely to expand by more than 2 per cent, as the aging of the population constrains labour force growth.