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Provincial Outlook

Rate cuts won’t spur immediate rebound in Canada’s economy

June 12, 2024

The global economic growth backdrop has shown signs of improvement, but Canada’s economy continues to underperform.

Canadian economic slowdown is not over

March 12, 2024

The Canadian economy is still slowing as the lagged impact of earlier interest rate increases materialize. Gross domestic product edged...

Hitting tipping points

December 12, 2023

The global economic growth backdrop has continued to slow as the lagged impact of aggressive central bank interest rate hikes continue to build alongside a continued squeeze on household purchasing power from the earlier rise in food and energy prices.

Canada’s economic engine is gearing down

September 13, 2023

Headwinds from higher interest rates and a slowing global economy are building. Canadian GDP edged 0.2% lower in Q2 of...

Canada’s economy is beating expectations, but for how long?

June 8, 2023

In both Canada and the U.S., GDP continued to grow in Q1—and consumers kept spending. But the surge in interest rates will continue to take a toll.

Canadian economy unlikely to dodge a downturn despite early-2023 resilience

March 15, 2023

Economic growth has been more resilient than feared in the wake of aggressive interest rate increases last year.

Rate-hiking cycle ending as recession edges closer

December 14, 2022

The Canadian economy continues to inch closer to a recession in 2023.

Hot provincial momentum to lose steam

September 12, 2022

Sky-high inflation, soaring interest rates and exceptionally tight labour markets have put their stamps on all provincial economies this year.

Western provincial economies shining more brightly in 2022

June 7, 2022

Booming global commodity markets will fuel tremendous activity in the primary sector.

Provincial economies face new challenges as pandemic threat fades

March 10, 2022

Restrictions will soon be out of the picture—if they’re not already—and barring any new threatening coronavirus variants, the economic recovery will become more complete from coast to coast, spreading to hard-hit close-contact service industries.

Provinces to enter advanced stages of recovery in 2022

December 2, 2021

While the pandemic still poses a significant risk to all provincial economies, the recovery is proceeding generally well. - RBC Economics

Brighter Days Ahead: Fiscal picture improves from coast to coast

November 2, 2021

At the height of the pandemic, seven of ten Canadian provinces projected record deficits. As the dust settles, it has...