Ontario Economic Update

As of April 21, 2017

Economy
  Monthly:
2016 Dec
Monthly:
2017 Jan
Monthly:
2017 Feb
Monthly:
2017 Mar
Quarterly:
2016 Q3
Quarterly:
2016 Q4
Quarterly:
2017 Q1
Year
to Date*
Annual:
2015
Annual:
2016
Real Gross Domestic Product ($2007 millions) - - - - 684,854 688,474 NA 682,957 665,034 682,957
Per cent change - - - - 0.7 0.5 NA 2.7 2.5 2.7
Current Dollar Gross Domestic Product ($ millions)  - - - - 801,465 809,250 NA 798,218 763,276 798,218
Per cent change - - - - 1.1 1 NA 4.6 4.9 4.6
Employment
  Monthly:
2016 Dec
Monthly:
2017 Jan
Monthly:
2017 Feb
Monthly:
2017 Mar
Quarterly:
2016 Q3
Quarterly:
2016 Q4
Quarterly:
2017 Q1
Year
to Date*
Annual:
2015
Annual:
2016
Employment (000's) 7,046 7,075 7,080 7,069 6,985 7,038 7,075 6,972 6,923 7,000
Net New Jobs (000's)  6.4 28.8 4.6 -11.2 -10.8 53.3 36.4 99.6 45.3 76.4
Per cent change 0.1 0.4 0.1 -0.2 -0.2 0.8 0.5 1.4 0.7 1.1
Unemployment Rate (per cent)  6.4 6.4 6.2 6.4 6.6 6.3 6.3 6.5 6.8 6.5
Average Weekly Wage Rate ($), nsa  958.17 952.15 956.78 962.92 960.1 956.3 957.28 957.28 938.09 958.5
Per cent change 0.4 -0.2 -0.3 -0.2 1.2 0.7 -0.2 -0.2 3.4 2.2
Employment Insurance Beneficiaries (regular) 137,550 137,360 134,880 NA 136,793 138,690 NA 174,155 148,438 139,848
Per cent change -0.7 -0.1 -1.8 NA -1.5 1.4 NA -4.1 -1.6 -5.8
Consumers
  Monthly:
2016 Dec
Monthly:
2017 Jan
Monthly:
2017 Feb
Monthly:
2017 Mar
Quarterly:
2016 Q3
Quarterly:
2016 Q4
Quarterly:
2017 Q1
Year
to Date*
Annual:
2015
Annual:
2016
Retail Sales ($ millions) 16,287 16,557 NA NA 48,179 49,103 NA 13,609 184,143 192,829
Per cent change -1 1.7 NA NA 0.8 1.9 NA 2.1 4.2 4.7
New Motor Vehicle Sales (units), nsa 53,104 46,261 52,347 NA 218,084 188,188 NA 98,608 778,716 821,762
Per cent change -6.8 3.7 7.4 NA 2.4 2.1 NA 5.6 6.3 5.5
Consumer Price Index (CPI), nsa 130 130.8 131.2 131.4 130.1 130.3 131.1 131.1 127.4 129.7
Per cent change 2 2.3 2.3 1.9 1.6 2 2.2 2.2 1.2 1.8
Housing
  Monthly:
2016 Dec
Monthly:
2017 Jan
Monthly:
2017 Feb
Monthly:
2017 Mar
Quarterly:
2016 Q3
Quarterly:
2016 Q4
Quarterly:
2017 Q1
Year
to Date*
Annual:
2015
Annual:
2016
Housing Starts (000's)  81.4 102.7 89 93.4 74 75.4 89.6 17 70.2 75
Per cent change 36.3 26.2 -13.3 5 -0.4 2 18.8 18.5 18.6 6.8
MLS Home Resales (units)  20,709 20,641 22,147 22,490 61,123 62,076 65,278 53,369 221,199 242,691
Per cent change 1.2 -0.3 7.3 1.5 1.7 1.6 5.2 14.8 9.5 9.7
Business
  Monthly:
2016 Dec
Monthly:
2017 Jan
Monthly:
2017 Feb
Monthly:
2017 Mar
Quarterly:
2016 Q3
Quarterly:
2016 Q4
Quarterly:
2017 Q1
Year
to Date*
Annual:
2015
Annual:
2016
Manufacturing Sales ($ millions)  257,65 25,946 25,659 NA 74,934 75,887 NA 47,935 289,325 301,023
Per cent change 2.5 0.7 -1.1 NA 0.9 1.3 NA -0.2 1.7 4
International Merchandise Exports ($ millions), nsa  16,234 16,174 15,939 NA 49,829 52,089 NA 32,113 197,030 205,389
Per cent change -9.7 -8.4 -8.5 NA -0.6 -1.8 NA -8.4 10.7 4.2
International Merchandise Imports ($ millions), nsa 26,170 26,195 26,534 NA 83,082 83,355 NA 52,728 325,393 333,663
Per cent change -3.4 1.5 -3.2 NA 0.8 -0.3 NA -0.9 10.1 2.5
Wholesale Trade ($ millions)  28,797 30,518 NA NA 87,128 87,164 NA 26,789 326,783 345,284
Per cent change -0.5 6 NA NA 1.5 0 NA 9.9 6.5 5.7
Non-residential Building Permits ($ millions)  995 919 849 NA 3,193 3,003 NA 1,314 11,950 11,924
Per cent change -8.8 -7.6 -7.6 NA 18.9 -5.9 NA -17.4 1.8 -0.2
Private and Public Investment ($ millions) - - - - - - - - 68,473 67,952
Per cent change - - - - - - - - 7.8 -0.8

* Notes: All data are seasonally adjusted unless otherwise specified with "nsa".
Per cent change for seasonally unadjusted (nsa) data is calculated on a year-to-year basis.
Year-to-date averages are generally calculated using unadjusted monthly data. Year-to-date per cent change is calculated on a year-to-year basis.
International merchandise trade is reported on a customs basis.
GDP levels are expressed at annual rates. Monthly and quarterly housing starts are expressed at seasonally adjusted annual rates.
Year-to-date housing starts are based on actual unadjusted urban-area data.
Sources: Statistics Canada, Ontario Ministry of Finance, Canada Mortgage and Housing Corporation and Canadian Real Estate Association.

For further information, please contact us at:
Ministry of Finance
Macroeconomics and Revenue Branch
Economic Analysis Unit
6th Floor, Frost Building North
95 Grosvenor Street
Toronto ON M7A 1Z1
416 325-0755
Send us your questions or comments.

Page: 2160  |