The Ontario Economy: The 2015 Ontario Budget has revised the government's real growth estimate up significantly from its 2014 Fall Economic Fiscal Outlook. Real growth for 2014 is now put at 2.2% for 2014, up from the fall forecast of 1.9% and real growth for 2015 is forecast at 2.7%, up from their fall forecast of 2.4%. Both of these forecasts are slightly lower than the forecasts from the banks and other private sector forecasters. With lower oil prices and a lower dollar, Ontario is now growing faster than the rest of Canada. Substantial Real Growth -- but who benefits? Seven years ago (starting the latter half of 2008) there was a recession in Ontario. It ended six years ago when economic growth began again in the third quarter of 2009 (i.e. July-Sept 2009). Since that time there has been significant economic growth, placing the Ontario economy well above its pre-recession high. Ontario, Gross Domestic Product (GDP) ($ Billions)
Notes from Leftwords -- Doug Allan