With the support of our Builder Member financial institutions, the OG100 Quarterly Economic Commentary takes an in-depth look at recent economic conditions with a lens specific to helping Ontario’s mid-sized companies make better-informed business decisions.
May 2022 with Builder Member CIBC
Author: Andrew Grantham, Executive Director and Senior Economist | Economics | Capital Markets
ONTARIO OUTLOOK: LOOKING TO CLOSE THE GAP
Like most areas of the country, the Ontario economy has enjoyed a much faster recovery from 2020’s pandemic-driven downturn than it has from previous, more traditional, recessions. However, the recovery hasn’t been quite as quick as some other parts of the country, most notably BC and Quebec. Can Canada’s largest provincial economy close the gap, or has the pandemic seen a lasting shift in the economic landscape?
That’s going to come down to the balance in a tug of war between positives and negatives. There are indeed some positives for Ontario that are not shared across all other provinces, but the local economy is also more suspectable to some of the biggest risks we face today, namely high inflation and rising interest rates.
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