Near-Term Headwinds, Rebound Ahead
Beyond the direct impact on costs and prices, tariffs are eroding consumer and business confidence. In the case of businesses, the weaker sentiment drains firms’ appetite for investment and hiring. Meanwhile, consumers are likely to delay major purchases until their confidence in job prospects and finances improves.
Given that the ongoing trade dispute with the United States has created a cloud of uncertainty, what are our projections for the province’s labour market and unemployment rate over the medium term? What is the impact of trade disruptions on inflation and consumer spending, as well as the manufacturing sector? How will Ontario work to balance the budget amid weaker economic growth?
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