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Provincial Outlook Economic Forecast: Ontario—Autumn 2018 The Conference Board of Canada, 63 pages, December 20, 2018 Report

Provincial Outlook Economic Forecast: Ontario—Autumn 2018

The Conference Board of Canada, 63 pages, December 20, 2018
Report

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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 The Ontario economy will expand in the 2.0 per cent range over the near term. Weaker growth in household spending is a major factor behind the more subdued outlook. Pending approval in the U.S. Congress, the CUSMA trade agreement should benefit Ontario’s auto sector. Premier Ford’s promised tax cuts will make it difficult for the province to balance the books unless more spending cuts are implemented. The elimination of the cap-and-trade program should lower gasoline and natural gas prices but will also reduce government revenue. Table of Contents RÉSUMÉ EXECUTIVE SUMMARY Ontario Ontario’s Economy Still Showing Signs of Strength Weaker but Still Solid Growth in Household Spending Investment Spending a Plus for Growth Toronto’s Housing Market Beginning to Stabilize Cuts in Government Spending on the Way Appendix A–Forecast Tables

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

The Ontario economy will expand in the 2.0 per cent range over the near term.
Weaker growth in household spending is a major factor behind the more subdued outlook.
Pending approval in the U.S. Congress, the CUSMA trade agreement should benefit Ontario’s auto sector.
Premier Ford’s promised tax cuts will make it difficult for the province to balance the books unless more spending cuts are implemented.
The elimination of the cap-and-trade program should lower gasoline and natural gas prices but will also reduce government revenue.

RÉSUMÉ

EXECUTIVE SUMMARY

Ontario

Ontario’s Economy Still Showing Signs of Strength
Weaker but Still Solid Growth in Household Spending
Investment Spending a Plus for Growth
Toronto’s Housing Market Beginning to Stabilize
Cuts in Government Spending on the Way

Appendix A–Forecast Tables

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