Saturday, May 26, 2012

What's Ontario's Q1 GDP Growth Going to Be?

The fourth quarter had growth of 0.5%. What's the first quarter of 2012 going to be like? We won't get the report until around July 9th unfortunately. Employment numbers for Ontario haven't been great for January, February and March compared to the rest of Canada and gas prices have been relatively high, which saps Ontario's GDP growth.

I'm going to make a wild prediction of 0.5% again. That hasn't really been any signs of stronger growth. Such meager growth will impact government revenues making McGuinty's task of reducing the deficit that much harder. Ontario needs GDP growth, even 2.5% would help, but I just don't see it happening anytime soon.

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