The Territorial Outlook provides the economic and fiscal outlook for each of Canada’s three Northern territories, including output by industry, labour markets, and demographics.
Territorial Outlook February 2011
Territorial Outlook February 2011
Business and Household Indicators
Provincial Economic Analysis
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- Canada’s domestic economy has lost much if its vigour as households and governments have become overextended. As a result, our forecast calls for real GDP growth of just 2 per cent this year. Growth will strengthen to 2.7 per cent in 2012.
- The Bank of Canada is back on the sidelines—a strong Canadian dollar and slower economic growth are expected to convince the Bank to hold off on rate hikes until the fall.
- The economic outlook for Canada’s territories is generally positive. Strong resource sector exploration and development will contribute to economic growth. Thanks to their relatively healthy fiscal situations, territorial governments will not have to cut back to the same extent as many other governments in Canada (and elsewhere).
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