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.
Provincial Outlook Long-Term Economic Forecast: Ontario—2018
Provincial Outlook Long-Term Economic Forecast: Ontario—2018
Provincial Economic Analysis
$675.00
- Ontario’s economic outlook remains positive, with the province posting average annual gains of 2.1 per cent over 2017–40.
- An aging population and declining birth rates will lead to slower population growth and weigh on the province’s long-term growth prospects.
- Tightening labour markets and population aging will support wage growth and household spending over the forecast.
- A shrinking labour force will push Ontario businesses to ramp up their investment in machinery and equipment.
- Modest growth in tax revenues, coupled with higher public spending on health care, will squeeze the province’s coffers over the long term.
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