Provincial Five-Year Outlook
Français 20-Year Outlook By CBoC Economics Team • Updated December 1, 2025
Provincial Economies at a Turning Point
Provincial economies have shown notable resilience this year. Labour markets have stabilized after early-year volatility, with employment gains concentrated in the Prairies and in Newfoundland and Labrador. Despite ongoing trade disruptions with the United States and China, consumer spending has held up, behind good income growth and high savings from past years.
December 1, 2025 • 18-min read
Provincial Five-Year Outlooks
Alberta
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British Columbia
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Manitoba
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New Brunswick
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Newfoundland & Labrador
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Nova Scotia
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Ontario
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Prince Edward Island
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Quebec
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Québec
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Saskatchewan
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Treading Water
Provincial economies appear to have performed better than anticipated during the first half of the year. Export growth was particularly strong in the first quarter, as U.S. firms boosted inventories in anticipation of potential tariffs. Consumers also maintained a relatively healthy pace of spending despite growing economic uncertainty, supported by still solid wage growth and stronger than expected job gains in a few provinces.
August 27, 2025 • 18-min read
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland & Labrador
Nova Scotia
Ontario
Prince Edward Island
Quebec
Québec
Saskatchewan
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