Provincial Outlook Economic Forecast: Winter 2011
The Conference Board of Canada,
February 28, 2011
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
- With personal income taxes heading higher, Quebec’s domestic economy will slow in 2011. The winding down of fiscal stimulus will restrain Ontario’s pace of expansion in the near term.
- A construction boom will continue to boost the Newfoundland and Labrador economy over the near term. The other Atlantic provinces are facing weak economic prospects.
- A much improved performance by the agriculture sector will lift economic growth in Manitoba and Saskatchewan next year.
- There is upside economic potential in British Columbia if the provincial government goes ahead with cuts to personal incomes taxes.
- Alberta’s economic prospects are bright. Investment in the energy sector will take off, with numerous oil sands projects planned.