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Provincial Outlook Economic Forecast: Ontario—Spring 2017

The Conference Board of Canada, 76 pages, July 4, 2017
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This quarterly economic forecast for the province of Ontario examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

  • Ontario’s economy will operate at, or very close to, its potential through 2019, with real GDP forecast to grow by 2.4 per cent in 2017 and 1.8 per cent in 2018.
  • Continued labour market strength and gains in disposable income will fuel consistent growth in consumer expenditures, and the wealth effect from rising home valuations will support housing-related expenditures on durable and semi-durable goods through the near term.
  • According to The Conference Board of Canada’s spring 2017 Survey of Business Confidence, more than half of Ontario businesses are operating near or above capacity; yet, far fewer believe that now is a good time to undertake a major capital expansion. By contrast, government investment will surge to offset the weakness.
  • Soft business investment and elevated public debt undermine an otherwise strong outlook.

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