Tariffs Dampen Growth Outlook
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.
Lower inflation and falling interest rates should have provided the base for a stronger 2025. However, trade disruptions and tariffs with the U.S. have changed the economic outlook.
How do the trade uncertainties affect investment and consumer confidence? How has the important auto sector been affected by the uncertainty? The government has sharply reduced immigration targets. What will be the impact on the labour market? How will plans to increase the housing supply be affected? What budget measures is the provincial government planning to assist firms and workers?
Read the issue briefing to get our full analysis.
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