This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada’s provinces.
Provincial Outlook Executive Summary: Winter 2018
Provincial Outlook Executive Summary: Winter 2018
Provincial Economic Analysis
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- The Canadian economy is still performing well, but growth has been easing.
- Despite turbulence and uncertainty on the trade and investment fronts, no hard landing is expected for the Canadian economy.
- A host of projects, mainly in the energy sector, will power B.C.’s economy this year to 3.1 per cent growth—the best of any province.
- Quebec and Ontario will see economic growth ease from close to or above 3 per cent last year to around 2 per cent this year and next.
- The recovery is on solid ground in Alberta, where job creation is expected to accelerate and lower the unemployment rate to close to 6 per cent by the end of this year.
- Population aging is hurting the Maritimes. Economic growth will be relatively weak in Nova Scotia and New Brunswick over the near term.
- New oil production from Hebron will help return Newfoundland and Labrador to real economic growth of 2.6 per cent in 2018 and 3.6 per cent in 2019.
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