Provincial Outlook Executive Summary: Spring 2017
This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada's provinces.
Saskatchewan and Alberta are emerging from recession.
Quebec saw a vast improvement in economic growth over the last year and will be able to maintain this momentum over the near term.
Ontario and British Columbia are still performing well but will see economic growth ease.
Atlantic Canada is struggling with the impacts of population aging and a slowdown in the labour supply, and growth will be weak over the next two years.
Manitoba’s economy is expected to continue to grow at a healthy pace despite downsizing at Great West and Manitoba Hydro.
One province will see its economy contract this year—Newfoundland and Labrador. The province will, however, benefit from oil production at the Hebron project in 2018, when real GDP is forecast to grow by 3.7 per cent.