This quarterly executive summary provides highlights of the Provincial Outlook report which presents the short-term outlook for Canada’s provinces.
Document Highlights
Gains in offshore oil production will vault growth in Newfoundland and Labrador to 5.5 per cent this year.
Alberta will see average growth of 4.5 per cent in 2003 and 2004, thanks to high oil prices and solid domestic demand.
The Quebec and Ontario economies will rebound from a brief slowing on the strength of revived U.S. growth.
Fiscal retrenchment and a weak lumber market will restrain near-term growth in British Columbia.
The fading effects of large construction projects will cause growth to decelerate in Nova Scotia and New Brunswick.
The Saskatchewan economy will get a strong boost from the rebound in agricultural output.
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