This annual economic forecast presents the long-term provincial outlook.
Provincial Outlook Long-Term Economic Forecast: 2020
Provincial Outlook Long-Term Economic Forecast: 2020
Provincial Economic Analysis
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Please note that this forecast was prepared before COVID 19 dramatically changed the near term economic outlook.
- Population aging is the most important issue facing the Canadian economy in the long term.
- The demographic challenges will vary from region to region.
- Younger provinces, such as those in the Prairies, will have fewer retirements, allowing them to post higher rates of economic growth.
- Quebec, New Brunswick, Newfoundland and Labrador and Nova Scotia will experience weaker economic growth due to rapid aging of their populations.
- Alberta will post the strongest economic growth over the forecast and will be the only province able to maintain a rate of growth above 2.0 per cent annually.
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