This annual 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.
Provincial Long-Term Economic Forecast for Ontario: 2016
Provincial Long-Term Economic Forecast for Ontario: 2016
Provincial Economic Analysis
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- The near-term outlook for Ontario is positive, and over the next two decades the province will remain one of the fastest-growing economies in the country.
- Baby boomers retiring from the labour force will shape economic patterns over the next 20 years.
- Goods will take a back seat to services—in both consumption and production.
- Slow labour force growth will force firms to ramp up investment in machinery and equipment.
- Population aging will pose a monumental challenge to government finances.
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