Ontario Economic Update

As of November 17, 2017

Economy
  Monthly:
2017 Jul
Monthly:
2017 Aug
Monthly:
2017 Sep
Monthly:
2017 Oct
Quarterly:
2017 Q1
Quarterly:
2017 Q2
Quarterly:
2017 Q3
Year
to Date*
Annual:
2015
Annual:
2016
Real Gross Domestic Product ($2007 millions) - - - - 695,773 701,150 NA 698,462 667,659 685,008
Per cent change - - - - 1.0 0.8 NA 2.9 2.9 2.6
Current Dollar Gross Domestic Product ($ millions)  - - - - 826,512 831,450 NA 828,981 762,029 794,835
Per cent change - - - - 2.0 0.6 NA 4.8 5.0 4.3
Employment
  Monthly:
2017 Jul
Monthly:
2017 Aug
Monthly:
2017 Sep
Monthly:
2017 Oct
Quarterly:
2017 Q1
Quarterly:
2017 Q2
Quarterly:
2017 Q3
Year
to Date*
Annual:
2015
Annual:
2016
Employment (000's) 7,106 7,137 7,172 7,177 7,075 7,078 7,139 7,109 6,923 7,000
Net New Jobs (000's)  25.5 31.1 34.7 5.2 36.4 3.7 60.4 117.6 45.3 76.4
Per cent change 0.4 0.4 0.5 0.1 0.5 0.1 0.9 1.7 0.7 1.1
Unemployment Rate (per cent)  6.1 5.7 5.6 5.9 6.3 6.2 5.8 6.2 6.8 6.5
Average Weekly Wage Rate ($), nsa  961.41 968.72 980.39 974.10 957.28 962.05 970.17 964.26 938.09 958.50
Per cent change 0.1 1.0 2.0 1.9 -0.2 0.4 1.0 0.6 3.4 2.2
Employment Insurance Beneficiaries (regular) 135,070 133,070 NA NA 137,237 133,437 NA 151,193 148,439 139,924
Per cent change 1.2 -1.5 NA NA -1.3 -2.8 NA -2.0 -1.6 -5.7
Consumers
  Monthly:
2017 Jul
Monthly:
2017 Aug
Monthly:
2017 Sep
Monthly:
2017 Oct
Quarterly:
2017 Q1
Quarterly:
2017 Q2
Quarterly:
2017 Q3
Year
to Date*
Annual:
2015
Annual:
2016
Retail Sales ($ millions) 17,886 17,946 NA NA 53,001 53,686 NA 139,096 188,893 202,235
Per cent change 0.3 0.3 NA NA 2.0 1.3 NA 7.0 5.5 7.1
New Motor Vehicle Sales (units), nsa 75,235 74,784 78,664 NA 176,159 261,787 228,683 666,629 778,716 821,762
Per cent change 3.5 1.0 10.3 NA 6.3 4.8 4.9 5.2 6.3 5.5
Consumer Price Index (CPI), nsa 131.9 131.8 132.3 132.3 131.1 132.0 132.0 131.8 127.4 129.7
Per cent change 1.2 1.5 1.7 1.3 2.2 1.5 1.5 1.7 1.2 1.8
Housing
  Monthly:
2017 Jul
Monthly:
2017 Aug
Monthly:
2017 Sep
Monthly:
2017 Oct
Quarterly:
2017 Q1
Quarterly:
2017 Q2
Quarterly:
2017 Q3
Year
to Date*
Annual:
2015
Annual:
2016
Housing Starts (000's)  80.3 96.3 80.2 60.8 88.5 70.2 85.9 62.0 70.2 75.0
Per cent change 2.5 19.9 -16.7 -24.2 17.4 -20.7 22.3 2.8 18.6 6.8
MLS Home Resales (units)  15,310 16,010 16,500 16,913 65,301 55,192 47,820 192,752 221,713 242,673
Per cent change -4.1 4.6 3.1 2.5 5.2 -15.5 -13.4 -9.8 9.5 9.5
Business
  Monthly:
2017 Jul
Monthly:
2017 Aug
Monthly:
2017 Sep
Monthly:
2017 Oct
Quarterly:
2017 Q1
Quarterly:
2017 Q2
Quarterly:
2017 Q3
Year
to Date*
Annual:
2015
Annual:
2016
Manufacturing Sales ($ millions)  24,100 24,657 24,447 NA 76,717 77,366 73,204 227,317 286,331 297,649
Per cent change -6.4 2.3 -0.9 NA 1.9 0.8 -5.4 2.2 2.1 4.0
International Merchandise Exports ($ millions), nsa  13,911 16,235 15,534 NA 50,845 53,264 45,679 149,789 197,030 205,456
Per cent change -5.3 -7.6 -11.7 NA -4.5 5.9 -8.4 -2.3 10.7 4.3
International Merchandise Imports ($ millions), nsa 26,820 29,843 28,250 NA 84,104 92,545 84,914 261,562 325,393 333,645
Per cent change 3.7 2.5 0.6 NA 2.3 8.9 2.2 4.5 10.1 2.5
Wholesale Trade ($ millions)  31,839 32,099 NA NA 92,785 94,698 NA 250,587 328,001 348,870
Per cent change 0.6 0.8 NA NA 4.6 2.1 NA 9.3 6.6 6.4
Non-residential Building Permits ($ millions)  1,420 1,038 1,242 NA 2,885 3,645 3,700 11,102 11,950 11,924
Per cent change 1.0 -26.9 19.7 NA -3.9 26.3 1.5 21.1 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  |