Total COVID-19 spending now amounts to $45 bn over three years, including an additional $15 bn allocated in this budget.

The price averaged $57.0 US in 2018. The Canadian economy shrank 11.5 percent on quarter in the three months to June 2020, the most on record following a 2.1 percent decline in the previous period and officially entering a recession as the COVID-19 pandemic hit the economy. Employment gains since June 2018 have mostly been full time, in the private sector and in industries paying above-average wages. The GDP of the Canadian territories are comparable to the small island nations and consequently smaller than most cities in Canada. Both the S&P 500 and the Canadian S&P/TSX indices have declined markedly since late February. The Canadian economy advance 0.3 percent on quarter in the three months to September 2019, slowing from a 0.9 percent expansion in the previous period. Publish your articles and forecasts in our website. In China and Canada, conditions declined early in 2019 and improved modestly in late 2019. Note: Includes information up to March 18, 2020 The province added 210,200 net new jobs (+2.9 per cent) in 2019, the strongest percentage increase since 2003, outpacing national employment growth and every other province.

Also, government expenditure fell 1 percent, the sharpest drop since Q1 2013, mainly due to school closures and curtailed government administration. This long-term update will describe anticipated changes in the economy and population over the next 20 years. Sources: Statistics Canada and Ontario Ministry of Finance. In 2015, the per capita GDP of Yukon was CAD$ 72,473, while the total GDP of the territory was CAD$ 2,710 million. Download historical data for 20 million indicators using your browser. Alberta is a province in west of Canada and has a population of 4,196,457 people according to the estimates of 2015. It was the sharpest contraction since Q1 2009, reflecting measures imposed in March to contain the coronavirus pandemic, including non-essential business closures, border shutdowns, and travel restrictions. Notes: Above-average wage industries are identified as those with earnings above the average hourly earnings of all industries in 2019. In the United States, the manufacturing PMI softened to close to 50 in mid-2019 before modestly improving. A reading above 50 indicates an overall increase in business conditions compared to the previous month, and below 50 an overall decrease. Supply chain and trade impacts had broad effects on global manufacturing. For example, elevated debt levels combined with reductions in wealth may keep spending below long-term trends. Following solid gains in 2019, employment growth is expected to slow and average 0.5 per cent in 2020, while the unemployment rate is expected to increase by one percentage point to an annual average of 6.6 per cent. In 2006 the difference from the national average was the largest recorded in any province in the history of Canada. Household spending tumbled at a record 13.1%, amid job losses and limited opportunities to spend due to closures of stores and restrictions on travel. To address COVID‑19, the Ontario government is also providing a timely and robust response package building on the measures announced by the federal government as part of a coordinated response. There is a high degree of uncertainty around the outlook for oil demand, supply and prices in the current environment. Household spending dropped at a record 2.3%, amid job losses, income uncertainty, and limited opportunities to spend. Over $8 bn in the FY21 deficit forecast is held against contingencies. 100% of BHP diamonds mined came from EKATI mine in NWT amounting to 3.05 million karats. The Ontario government will continue to take further actions as required and is committed to coordinating with all levels of government to ensure the response is timely and effective. While Ontario’s economy has been affected by the recent global slowdown related to the COVID‑19 outbreak, strong economic fundamentals and government policies helped support economic growth in the province in 2019. The line chart shows monthly manufacturing Purchasing Managers’ Index (PMI) for China, the United States, Canada, the United Kingdom, Japan and Germany from February 2017 to February 2020.

It then stabilized, averaging 1.7 per cent from September 2019 to February 2020. Recent updates by private-sector forecasters have included much slower rates of growth than projected just a few weeks ago. With the labour force growing in line with employment, Ontario’s unemployment rate held steady at 5.6 per cent in 2019, matching the 2018 rate, the lowest annual rate since the late 1980s. Description

In addition to reductions in policy interest rates, the Bank of Canada has announced, among other policy measures, funding support for small- and medium-size businesses. Other significant industries include manufacturing, clothing, furniture, and handicrafts. Slowing employment income along with recent measures to encourage consumers to stay at home is expected to weaken household consumption growth from 3.6 per cent in 2019 to 2.4 per cent in 2020. Expressed at an annualized rate, real GDP plunged 8.2 percent, the most since Q1 2009, after an upwardly revised 0.6 percent growth in the prior period. For instance Ontario is the most populous province in the country and is the manufacturing and trade hub in Canada. The Canadian 10-year government bond rate declined from an average of 2.0 per cent in January 2019 to an average of 1.2 per cent in August 2019. 1961-2020 Data | 2021-2022 Forecast | Calendar | Historical.

Ontario expects to run a deficit in FY21 in line with earlier forecasts at $38.5 bn or 4.5% of GDP (chart 2). All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com, The Continents Of The World Per Capita GDP, The Largest And Smallest Canadian Provinces/Territories By Area. Sources: Statistics Canada and Ontario Ministry of Finance. Sources: U.S. Energy Information Administration and Investing.com.