Ontario Economy in 2011
By Elli Davis, November 27, 2010
Confused by Helga Weber
This next year is not going to be exactly great for Ontario and its economy, an economic outlook released by the Scotiabank claims. Just as OECD, the Scotiabank also expects the overall growth in the country to be a little weaker in 2011 and the province is going to, quite noticeably, contribute to that.
Ontario is predicted to face lower growth than many other parts of the country, in which higher growth is expected mainly due to high commodity prices. If compared to the growth level predicted for this year, 3.5 percent, next year is expected to be pretty weak for the province. The economic growth is expected to decline by 1.5 percent, to 2 percent.
This is a little disappointing, but the growth for the whole Canada is not likely to be that much higher next year, I think. We therefore should not expect wonders from our province either.