Investment Shines Through the Clouds: Ontario’s Two-Year Outlook—June 2022

Document Highlights

Ontario’s economy will expand by 4.0 per cent this year and 3.2 per cent in 2023.

Strong gains in non-residential business investment will offset a cooling housing sector.

Growth in real consumer spending will remain healthy, though lingering inflationary pressures present a major downside risk.

Budget 2022 promised large investments in transportation infrastructure, which will provide a boost to Ontario’s economy.

Exports won’t pick up momentum until later this year as global supply bottlenecks continue to sort themselves out.