Provincial Outlook Summary: Winter 2020
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada’s provinces.
- The Canadian economy is expected to expand by 1.8 per cent this year and 1.9 per cent next year as energy investment recovers and solid disposable income growth supports household spending.
- The coronavirus is expected to lower tourism spending by around $550 million in the first half of this year.
- Steady economic growth at the national level is masking regional economic growth disparities this year. British Columbia and P.E.I. are set to post growth above 3 per cent in 2020, while Saskatchewan’s economy is expected to grow by just half a percentage point.
- Provincial growth prospects are expected to converge next year, with only a couple of provinces forecast to grow at a rate significantly different from that for the Canadian economy as a whole.
Table of Contents
- Newfoundland and Labrador
- Prince Edward Island
- Nova Scotia
- New Brunswick
- British Columbia
Appendix A—Forecast Tables