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: Winter 2010
Provincial Outlook Economic Forecast: Winter 2010
Provincial Economic Analysis
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- British Columbia will finish first this year, boosted in part by the Winter Olympic Games and a recovery in the decimated forestry sector.
- Ontario is forecast to outpace the national average for the first time in nearly a decade in 2010. The provincial economy has been picking up speed over the last few months.
- Quebec will experience only modest economic growth over the next two years, as the aerospace industry continues to suffer and public infrastructure stimulus winds down.
- The Maritime provinces, along with Manitoba, will post real GDP growth of 2 per cent or less in 2010. These provinces did not falter as much during the recession.
- New potash sales early this year will kick off the recovery in Saskatchewan.
- Alberta’s energy sector is set to bounce back, while the resource sector will fuel a rebound in Newfoundland and Labrador, as both provinces emerge from the recession.
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