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Ontario Economic Update

As of November 6, 2009
                       Year        
     Monthly            Quarterly      to Date*   Annual     
  2009            2009            2007   2008  
  Jul   Aug   Sep   Oct   Q1   Q2   Q3           

Economy
 		                    
Real Gross Domestic Product ($2002 millions)*  -  -  -  -  514,209  508,932  NA  511,570  534,348  531,635 
               Per cent change         -2.1  -1.0  NA  -4.2  2.1  -0.5 
Current Dollar Gross Domestic Product ($ millions)  -  -  -  -  564,282  560,131  NA  562,206  584,664  587,796 
               Per cent change         -2.1  -0.7  NA  -5.1  4.5  0.5 

Employment
 		                    
Employment (000's)  6,500  6,513  6,525  6,513  6,567  6,506  6,513  6,522  6,594  6,687 
Net New Jobs (000's)  13.7  12.2  12.6  -12.0  -115.3  -61.4  6.9  -171.8  101.1  93.5 
              Per cent change 0.2  0.2  0.2  -0.2  -1.7  -0.9  0.1  -2.6  1.6  1.4 
Unemployment Rate (per cent)  9.3  9.4  9.2  9.3  8.5  9.2  9.3  9.1  6.4  6.5 
Average Weekly Wage Rate ($)*, nsa  830.52  828.22  840.66  841.09  827.97  830.17  833.13  831.49  786.24  816.41 
              Per cent change 2.2  0.8  1.0  2.0  3.0  2.0  1.3  2.1  2.5  3.8 
Employment Insurance Beneficiaries (regular)  262,170  247,360  NA  NA  207,977  268,307  NA  264,941  130,913  142,598 
              Per cent change -8.5  -5.6  NA  NA  26.2  29.0  NA  77.8  1.4  8.9 

Consumers
 		                    
Retail Sales ($ millions)  12,229  12,375  NA  NA  36,279  36,497  NA  94,864  146,252  151,375 
              Per cent change 0.1  1.2  NA  NA  -1.0  0.6  NA  -4.9  3.9  3.5 
New Motor Vehicle Sales (units)  47,400  47,444  NA  NA  128,202  131,518  NA  365,976  605,799  592,088 
              Per cent change 9.0  0.1  NA  NA  -2.9  2.6  NA  -13.1  -2.4  -2.3 
Consumer Price Index (CPI)*, nsa  113.7  113.7  113.8  NA  113.1  113.8  113.7  113.5  110.8  113.3 
              Per cent change -1.2  -1.0  -1.1  NA  1.6  0.3  -1.1  0.2  1.8  2.3 

Housing
 		                    
Housing Starts (000's)*  39.8  45.2  50.2  NA  54.4  42.6  45.1  32.9  68.1  75.1 
              Per cent change -13.1  13.6  11.1  NA  -19.7  -21.7  5.9  -40.7  -7.2  10.2 
MLS Home Resales (units)*, nsa  21,603  18,067  18,025  NA  30,468  63,262  57,695  151,425  213,379  181,001 
              Per cent change 13.8  15.9  14.0  NA  -24.6  0.9  14.5  -1.4  9.5  -15.2 

Business
 		                    
Manufacturing Sales ($ millions)  19,214  18,603  NA  NA  54,126  52,378  NA  143,741  289,379  274,051 
              Per cent change 11.6  -3.2  NA  NA  -16.4  -3.2  NA  -22.5  -2.1  -5.3 
International Merchandise Exports ($ millions)*, nsa  9,193  9,906  NA  NA  31,955  29,816  NA  80,870  177,387  163,774 
              Per cent change -28.0  -28.2  NA  NA  -21.4  -30.2  NA  -26.4  0.0  -7.7 
International Merchandise Imports ($ millions)*, nsa  16,495  17,582  NA  NA  50,317  50,627  NA  135,020  240,259  241,710 
              Per cent change -18.2  -12.7  NA  NA  -9.9  -18.2  NA  -14.6  2.8  0.6 
Wholesale Trade ($ millions)  20,835  20,369  NA  NA  58,168  59,208  NA  156,199  261,476  259,947 
              Per cent change 4.3  -2.2  NA  NA  -8.7  1.8  NA  -9.2  4.0  -0.6 
Non-residential Building Permits ($ millions)  617  674  713  NA  2,780  2,392  2,004  7,174  11,089  10,912 
              Per cent change -33.5  9.3  5.7  NA  35.2  -14.0  -16.2  -18.8  23.2  -1.6 
Private and Public Investment ($ millions)  -  -  -  -  -  -  -  -  103,238  104,048 
              Per cent change -  -  -  -  -  -  -  -  4.7  0.8 


For further information, please contact us at:
Ministry of Finance
Economic and Revenue Forecasting and Analysis Branch
Current Analysis Unit
6th Floor, Frost Building North
95 Grosvenor Street
Toronto ON M7A 1Z1
416 325-0755
e-mail: macroeconomics.fin@ontario.ca

* 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.
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