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Ontario Economic Update

As of November 20, 2009
                       Year        
     Monthly            Quarterly      to Date*   Annual     
  2009            2009            2007   2008  
  Jul   Aug   Sep   Oct   Q1   Q2   Q3           

Economy
 		                    
Real Gross Domestic Product ($2002 millions)*  -  -  -  -  514,209  508,932  NA  511,570  534,880  532,209 
               Per cent change         -2.1  -1.0  NA  -4.2  2.3  -0.5 
Current Dollar Gross Domestic Product ($ millions)  -  -  -  -  564,282  560,131  NA  562,206  585,723  587,827 
               Per cent change         -2.1  -0.7  NA  -5.1  4.5  0.4 

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)  47,477  47,490  47,133  NA  128,202  131,565  142,100  414,330  605,799  592,088 
              Per cent change 9.1  0.0  -0.8  NA  -2.9  2.6  8.0  -12.0  -2.4  -2.3 
Consumer Price Index (CPI)*, nsa  113.7  113.7  113.8  113.9  113.1  113.8  113.7  113.6  110.8  113.3 
              Per cent change -1.2  -1.0  -1.1  0.2  1.6  0.3  -1.1  0.2  1.8  2.3 

Housing
 		                    
Housing Starts (000's)*  39.8  45.2  50.2  57.6  54.4  42.6  45.1  38.9  68.1  75.1 
              Per cent change -13.1  13.6  11.1  14.7  -19.7  -21.7  5.9  -38.2  -7.2  10.2 
MLS Home Resales (units)*, nsa  21,603  18,067  18,025  17,847  30,468  63,262  57,695  169,272  213,379  181,001 
              Per cent change 13.8  15.9  14.0  42.1  -24.6  0.9  14.5  1.9  9.5  -15.2 

Business
 		                    
Manufacturing Sales ($ millions)  19,319  18,838  19,780  NA  54,126  52,449  57,937  164,838  289,379  274,051 
              Per cent change 11.7  -2.5  5.0  NA  -16.4  -3.1  10.5  -21.4  -2.1  -5.3 
International Merchandise Exports ($ millions)*, nsa  9,212  9,904  11,369  NA  31,955  29,820  30,485  92,261  177,387  163,835 
              Per cent change -27.9  -28.3  -20.8  NA  -21.4  -30.2  -25.5  -25.8  0.0  -7.6 
International Merchandise Imports ($ millions)*, nsa  16,494  17,559  18,379  NA  50,345  50,632  52,431  153,409  240,259  241,848 
              Per cent change -18.2  -12.9  -12.2  NA  -9.9  -18.3  -14.4  -14.3  2.8  0.7 
Wholesale Trade ($ millions)  20,872  20,423  20,672  NA  58,168  59,234  61,968  177,968  261,476  259,947 
              Per cent change 4.4  -2.2  1.2  NA  -8.7  1.8  4.6  -8.7  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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