This annual economic forecast presents the long-term provincial outlook.
Provincial Outlook Long-Term Economic Forecast: 2015
Provincial Outlook Long-Term Economic Forecast: 2015
Provincial Economic Analysis
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- Slower population growth and the effects of an aging population will restrain labour force growth in Canada and the provinces and heavily influence income and spending patterns over the long term.
- Newfoundland and Labrador as well as New Brunswick will record the fastest aging of their populations in Canada over the forecast period.
- Alberta, Ontario, and British Columbia will post the strongest economic growth over the long term with real GDP growth averaging around 2 per cent per year from 2015 to 2035.
- Low oil prices and the weaker value of the Canadian dollar will boost the prospects for Ontario’s economy over the forecast period.
- The economic prospects for Quebec and the Atlantic provinces will be dampened over the long term by the aging of the population.
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