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.
Provincial Outlook Economic Forecast: Ontario—Winter 2017
Provincial Outlook Economic Forecast: Ontario—Winter 2017
Provincial Economic Analysis
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- Ontario’s economy will operate at, or very close to, its potential through 2019, with real GDP forecast to grow by 2.0 per cent in 2017 and 2.1 per cent in 2018.
- Robust labour markets and gains in disposable income will fuel consistent growth in consumer expenditures, and the wealth effect from rising home valuations will support housing-related expenditures on durable and semi-durable goods through the near term.
- According to the Conference Board’s winter 2017 Survey of Business Confidence, nearly half of Ontario businesses are operating near or above capacity, yet far fewer believe that now is a good time to undertake a major capital expansion.
- Soft business investment and elevated public debt will undermine an otherwise strong outlook.
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