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.
Document Highlights
Ontario’s economy will expand 2.0 per cent annually between 2021 and 2045.
A low birth rate, an aging population, and strong migration to Ontario are the leading demographic trends shaping the province’s long-term outlook.
Labour markets will remain tight over the next 10 years as a growing share of the population enters retirement age, but conditions will loosen over the long term.
