This annual 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 Long-Term Economic Forecast: Ontario—2017
Provincial Outlook Long-Term Economic Forecast: Ontario—2017
Provincial Economic Analysis
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- Ontario’s outlook remains positive over the next two decades, with the province emerging as a provincial growth leader.
- The retirement of baby boomers from the labour force will greatly influence Ontario’s economic outlook through 2040.
- The strength of the U.S. economy will provide a lift to domestic investment and employment through Ontario’s trade sector.
- Slow labour force growth will force firms to ramp up investment in machinery and equipment, supporting potential output growth.
- The aging of the Ontario population will present a significant challenge for provincial finances.
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