Wholesale trade increased by 5.3% in July, following an increase of 28.3% in June. Businesses drew down $17.9 billion worth of non-farm inventories in the second quarter. As of July, wholesale trade had essentially recovered, being 0.7% below February levels. The government anticipated the shortfall will decline to $28.2 billion in 2022–23.

All indices have recovered strongly with S&P 500 rising above its March peak. In the second quarter prices for both exports (−2.4%) and imports (−1.8%) declined sharply. The line chart shows the daily value of the S&P 500, Nikkei, S&P TSX and Euro Stoxx 50 stock indexes from January 2016 to September 2020. Manufacturing sales increased by 12.8% in July following an increase of 39.9% in June. News Real GDP in the euro area declined 11.8% in the second quarter, following a 3.7% decline in the previous quarter. Office of Economic Policy.\" ; Export to EndNote / Reference Manager(non-Latin).

Skip to content Learn more ››. Separate up to five addresses with commas (,). Output in both service-producing (−11.2%) and goods-producing Welcome to the new Publications Ontario eCommerce store. During the 2008/09 recession, employment hit its low point in month 8 at −4.1% and returned to peak employment in month 30. Net mixed income, which is comprised of farm, non-farm In compliance with the legislation, the OEA will be released according to the following schedule: The Ontario Economic Accounts provide measurements of GDP using three different methodologies, by expenditure, income and industry. About Us The Ontario government temporarily raised the exemption from $490,000 earlier in the pandemic; the change is now permanent. Table 11: Sources and Disposition of Ontario Household Income Ontario has recorded more than 3,000 deaths and has nearly 80,000 COVID-19 cases, making it Canada’s second-worst affected province behind Quebec. Ontario and Quebec constitute Central Canada, a region that accounts for over 58 per cent of Canada’s gross domestic product (GDP). This account has reached its share limit. The line chart shows Ontario’s retail sales in billions of dollars from January 2016 to July 2020. 2019 Jan-Mar. The horizontal bar chart shows the 2020 percentage change in employment from February to recent low, the percentage change in employment from recent low to August relative to February employment, and the net percentage change in employment from February to August for each province and the Canadian total. Previous Next. The province, which is one of the world’s largest sub-sovereign borrowers, projected GDP to shrink by 6.5 percent in 2020 before rebounding by 4.9 percent in 2021. The context: The province plans to introduce legislation that would give the Alcohol and Gaming Commission of Ontario authority to manage and regulate online gaming. The government is launching a program called Ontario Onwards which, over the next two years, promises to offer digitally at least 70 per cent of the provincial services “people of Ontario use most,” like some health-care services and business-permit approvals.

Output in the service industries decreased 11.2%, including industry changes as follows: other services (−25.5%); wholesale trade (−18.8%); retail trade (−17.1%); professional and administrative services (−11.8%); health, education and public administration (−8.5%); real estate, rental and leasing (−2.5%); and finance and insurance (−0.4%). Employment Report at: https://www.ontario.ca/document/ontario-employment-reports. Table 16: Annual Data, 2016-2019, Historical tables, both annual and quarterly available from 1981. Ministry of Finance. The horizontal bar chart depicts the per cent change in nominal GDP and its components for the second quarter of 2020. The change in output of each manufacturing industry is as follows: transportation equipment (−49.4%); textile, clothing and leather (−31.9%); primary and fabricated metal (−29.8%); plastic and rubber (−24.9%); machinery (−23.6%); other manufacturing (−20.1%); wood and furniture (−19.3%); electrical and electronic (−15.0%); paper and printing (−14.6%); chemical and petroleum (−11.3%); and food, beverage and tobacco (−9.1%). The oil price has since gained to around $40 U.S. per barrel in early September. Still, Premier Doug Ford’s Progressive Conservative government unveiled new details for initiatives including digitizing government services, training workers for the post-pandemic recovery and funding an IP strategy. in Alberta, Ontario and Nova Scotia. The line chart shows Ontario’s manufacturing sales in billions of dollars from January 2016 to July 2020. In 2020 (current), employment hit its low point in month 4 (May) at −15.3%; as of August (month 7), employment is 6.5% below the previous peak.

The GDP by expenditure approach defines GDP as the aggregate of all expenditures on final consumption, gross capital formation and net trade by consumers, governments and businesses that occur within Ontario’s economy over a given time period. Construction output was 12.5% lower, as both non-residential structures and engineering (−13.7%) and residential construction (−10.8%) declined. Real GDP declined 12.3% and nominal GDP decreased 13.3% in the quarter. The bar chart illustrates Canada’s quarterly per cent real GDP growth from the first quarter of 2016 to the second quarter of 2020.

Ontario’s nominal GDP declined 13.3% in the second quarter, following a 2.3% decrease in the first quarter. help people retrain and upgrade their skills for available jobs and apprenticeships, including through grants to employers. The bar chart illustrates Ontario’s quarterly per cent real GDP growth from the first quarter of 2016 to the second quarter of 2020. Don't have an account? Please select Ok if you would like to proceed with this request anyway. Contact Us, Second Quarter of 2020 The government also lowered a property tax called the business education tax, for some 200,000, or 94 per cent, of businesses in Ontario. Goods sector output declined by Skip to content It comes as the federal government weighs whether to lift a prohibition on single-event sports betting, allowing provinces to set their own rules in the space. a prohibition on single-event sports betting, allowing provinces to set their own rules in the space. http:\/\/www.worldcat.org\/oclc\/1081090574> ; http:\/\/purl.oclc.org\/dataset\/WorldCat> ; http:\/\/www.worldcat.org\/title\/-\/oclc\/1081090574#PublicationEvent\/toronto_ontario_ministry_of_treasury_and_economics_office_of_economic_policy_1987>.

Across Canada, there was an employment change of −15.7% between February and recent low (April), an employment change of +9.9% between recent low and August relative to February employment, and a net employment change of −5.7% between February and August.

Purchase a subscription to read the full article. Prices were lower for a number of expenditure components, notably for clothing, motor vehicles, electricity, and gasoline. {{ cat.description }} Expand {{ cat.description }} Catalogue ... Ontario economic accounts 2020 Jan-Mar.

The initiative could also benefit local tech companies, should the government prioritize their products and services in its digital transformation. This includes personalizing content and advertising. Non-residential investment spending contracted 9.7% while residential investment declined 10.4%. The line chart shows the Ontario employment change from peak employment by month for the last three recessions (1981/82, 2008/09, 1990/92) and currently (2020). The Bank of Canada also maintained its key policy interest rate at 0.25% in the September meeting The line chart shows Ontario’s wholesale trade in billions of dollars from January 2016 to July 2020. Pension Satellite Account: interactive tool (71-607-x2019032) Provincial and territorial economic accounts: Interactive tool (71-607-X2019022) Provincial and Territorial Tourism Satellite Account (71-607-x2018011) Public Sector Universe (68-516-X) Securities statistics (71-607-x2019004) The international trade explorer (71-607-x2019005)