This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada’s provinces.
Provincial Outlook Economic Forecast: Summer 2011
Provincial Outlook Economic Forecast: Summer 2011
Provincial Economic Analysis
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- Public fiscal restraint is the order of the day. It will not affect all provinces equally; some provinces are already operating in the black.
- A fast-expanding resource sector will greatly benefit the economies of Saskatchewan, Alberta, and British Columbia in 2011–12.
- Exceptional floods will hamper economic growth in Manitoba as a large portion of farmland could not be seeded in time this year.
- Tax increases and a correction in housing construction will hurt real GDP gains in Quebec over the near term. Ontario will fare better but the outlook is temporarily clouded by supply disruptions in the auto industry.
- Moderate real GDP growth is in store for the Maritime provinces but booming Newfoundland and Labrador is in a league of its own.
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