Ontario's economy gets a 'B,' according to new report

The Conference Board of Canada says despite challenges, Ontario's economy scores a "B."

An auto worker guides vehicles down an assembly line.
Photo: AP/Tony Gutierrez

There's a new report about the Ontario economy which the big three Ontario political party leaders are likely to selectively grab hold of to support their election campaign messages.

The Conference Board of Canada says that despite considerable challenges, the provincial economy scores a solid "B."

When it comes to employment growth, Ontario gets an "A" -- largely because of the economic rebound in the US; Ontario's largest trading partner.

The Board stresses, however, that chronically high government deficits "have made it difficult for the province to invest in education and innovation and Ontario is experiencing a long-term shift toward a more service-oriented economy."

It recommends the province specialize in new technologies.   

Chief economist Glen Hodgson says in doing so, "Ontario could be a leader, instead of a laggard."

"Ontario remains a relatively healthy economy compared to its international peers," he says.

Hodgson's B-rating puts Ontario in the company of countries such as Germany, Sweden, and Austria.

Long term, the Conference Board says Ontario faces the prospects of a steady erosion of its prosperity, for a few reasons:

Most important: a decline in labour productivity.  Also problematic are chronically high fiscal deficits and rising debt levels of the Ontario Government, which restricts its ability to invest in innovation and education.

Leave a comment:

showing all comments · Subscribe to comments
Comment Like
  • 33
  1. Mark posted on 05/15/2014 07:06 AM
    "despite considerable challenges" is the key phrase in this report. Those challenges are the liberals who have allowed the manufacturing sector to be decimated, allowed hydro cost for business and citizens to skyrocket, and who have rewarded public sector workers like piggy teachers unsustainable contracts in return for political support.

    We need to crush these bastard libranos into dust at the polls and stand behind Hudak in hopes that we can turn this province from a restaurant severing population to high paying jobs with a lean and efficient public sector SERVING US, AND NOT SUCKING FROM US.
    1. Points to Ponder posted on 05/15/2014 07:44 AM
      @Mark Looking at your list, here's the other side:

      "manufacturing sector" - most of the fault can be laid at the federal level. Every province has suffered significant losses in this sector as a result

      "hydro costs" - a poor job has been done by the Liberals - but remember that the crux of the problem is the splitting up of Ontario Hydro by the Harris nitwits.

      "piggy teachers" - teachers have "enjoyed" raises slightly above the rate of inflation for the past 9 years after an 11 year wage freeze. Your memoru is conveniently short ... or totally absent.

      The Hudak "solution" of slash and burn will merely repeat the mistakes made the last time the Tea Party was in control of the province ... that's right ... Harris again.
    2. cotrim posted on 05/15/2014 10:15 AM
      @Mark you will have to blame the decimated manufacturing sector on greedy corporations. low corporate taxes and perks and loopholes seem to be not be sufficient for them. it's about how cheap can i get in labour costs to get my t-shirt made overseas then turn around and sell it back here for 300 or 400 % mark up. damn Canadian jobs damn workers or safety rights in Bangladesh. profits and dividends is what they only care about. where i can and when i can i only buy Canadian and boycott companies that choose to kill Canadian jobs. capitalist greed and banking/financial greed as in the states decimating cities and peoples lives
  2. cotrim posted on 05/15/2014 10:02 AM
    great news Ontario. great news for the Liberals. a solid B with a robust economy and steady job growth.
    lets get out and vote and send a solid message to the conservatives that draconian policies are not wanted here or needed
    1. Sonny posted on 05/15/2014 10:23 AM
      @cotrim Yes make sure the Cons lose. Hudak wants to lower corporate taxes when Ontario already has one of the lowest in North America!
  3. Mark7 posted on 05/15/2014 10:59 AM
    All criminal Fiberal voters are utter pinheads! Cased closed and non negotiable. I have never voted criminal Fiberal in my 50 years on earth either provincially or federally and never will. At least some of us have a brain.
    1. arthur posted on 05/15/2014 11:19 AM
      @Mark7 wow! sure glad my brain is wired differently than yours
    2. MarkFromEtobicoke posted on 05/15/2014 12:22 PM
      @Mark7 I'm sure that as a proud member of crackhead nation, you voted for and will vote again for the druggy Fords. I am embarrassed to have the same first name but, rest assured, any recommendation from Mark7 will have me doing the opposite. I was going to vote NDP, but given the conservative lunacy I have been reading here and elsewhere, you have convinced me to vote Liberal just to teach you blow-hard fools a lesson. True, cut of my nose to spite my face, but there you go.
  4. john posted on 05/15/2014 11:24 AM
    what economy ? how much of our tax payer money did thay waste to pay off these people .? economy dos not exist here ? it died when the liberals got in ! .
    1. arthur posted on 05/15/2014 11:56 AM
      @john Hodgson's B-rating puts Ontario in the company of countries such as Germany, Sweden, and Austria.
      I'll take that over Hudak's race to the bottom to be like Detroit
    2. MarkFromEtobicoke posted on 05/15/2014 12:25 PM
      @john Delusional Conservatives are delusional, just like Hudak.
  5. don was right posted on 05/15/2014 05:50 PM
    Stop buying KIA and Hyundai and Hitachi and Samsung, stop buying american sausages and canned beans and chinese canned vegetables, stop spending vacation money in Cuba, stop buying Canada Olympic souvenirs made in China and Bangladesh, stop buying furniture and lumber made in China, stop buying clothing at the Gap and Old Navy. Stop buying duty free stuff at the border. Free rade is great, but its not for YOU to get cheaper crap but for stufff you make HERE to sell in China and Korea and USA.
    1. Angry Bill posted on 05/16/2014 10:08 AM
      @don was right Sure, don. I'll get right on that as soon as things stop costing 200% more in Canada than they do in any other country in the world, including the US.
    2. john posted on 05/16/2014 12:38 PM
      @don was right sounds like a good ideal but here is the thing

      how are u going to get around this country ?

      how are u going to even eat ?

      do u have enough money to buy Canadian made stuff ?

      not with the current government we got now .

      i would gladly buy stuff made in Canada but u cant get anything for free not like the old days .
showing all comments

Your GTA

Sign Up For Breaking News Alerts

Becoming a member only takes 60 seconds! Members get access to exclusive information and products that non-members do not, including concert ticket presales, trips, advance notice on upcoming entertainment events, movie screening passes, music giveaways and more!

Login with Facebook

Stay connected 24/7! Receive breaking news and programming alerts right to your inbox. CLICK HERE to sign-up.

Today's Poll

Do you support giving Toronto Police more money in their budget, so they can immediately implement the 84 recommendations made in the report on how officers deal with people in crisis?

Voting is restricted to one vote every 24 hour(s) VoteResults

Top Stories