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04 May

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Special Report: A timely analysis of recent economic events – Spring 2018

May 4, 2018 | By |

The Great Lakes-St. Lawrence region is a vital driver of North American economic output, employment and trade, accounting for nearly a third of combined Canadian and U.S. GDP, jobs and exports. Economic growth in the region is expected to accelerate for a second consecutive year in 2018, this time led by gains south of the border.

While Ontario and Quebec should downshift after leading the region in 2017, most U.S. states are expected to pick up alongside cyclically-strong factory activity, stronger business investment and a heavy dose of fiscal stimulus. Still, some longer- term issues remain for the region’s economy.

Labour costs are in focus as the factory sector seeks to remain competitive, while demographic headwinds will be a persistent challenge. Meantime, uncertainty on the trade front is currently the biggest concern given deeply integrated cross-border activity in the region, and its impact on the North American economy.

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