Provincial Outlook Executive Summary: Spring 2016
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada’s provinces.
- At nearly the halfway point in the year, only a few provinces have improved their economic performance.
- The commodity price slump will continue to hurt the economies of Newfoundland and Labrador, Saskatchewan, and Alberta.
- The wildfires in northern Alberta are adding to the economic woes of the province but the rebuilding effort will lift real GDP in 2017.
- Good news is coming from Ontario, British Columbia, Prince Edward Island, and Manitoba—these will be the only provinces with real GDP growth above the national average.
- Newfoundland and Labrador is the only province expected to face a recession in 2017.