A Gradual Return to Growth: Quebec’s Five-Year Outlook—July 2024

A Gradual Return to Growth: Quebec’s Five-Year Outlook—July 2024

Provincial
10 min read

Author: Liam Daly

$705.00

This quarterly economic forecast for the province of Quebec examines the economic outlook for the province, including gross domestic product (GDP), output by industry, and labour market conditions.

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We share our outlook for Quebec’s economy over the next five years. Although high interest rates will subdue demand, gradual rate cuts, starting this summer, will contribute to a modest improvement in the province’s GDP growth. The outlook is also strong for non-residential investment, with several large construction projects under way. What is the impact of higher borrowing costs, muted job growth, and slowing wages on consumer spending? How will the current economic slowdown and weak population growth projections impact the province’s plans to reduce its debt-to-GDP ratio? What are the growth prospects for the province’s mining industry?

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