This quarterly economic forecast provides highlights of the Provincial Outlook report, which presents the short-term outlook for Canada’s provinces.
Provincial Outlook Executive Summary: Winter 2012
Provincial Outlook Executive Summary: Winter 2012
Provincial Economic Analysis
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- The U.S. economy continues to expand and create jobs, but the ongoing European sovereign debt problems threaten to disrupt global economic activity and hurt Canada’s trade flows.
- Strong commodity prices are boosting the economies of Western Canada. Real GDP growth in the region will far outpace the national average over the next two years.
- Labour shortages are resurfacing out West and could be a drag on near-term growth there.
- Fiscal policy will remain relatively loose in Alberta and Saskatchewan but will tighten in other provinces, limiting their economic growth over the near-term.
- Atlantic Canada is facing modest near-term economic growth.
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