2024 Ontario Economic Report

On February 7, the Ontario Chamber of Commerce (OCC) released its eighth annual Ontario Economic Report (OER). This year’s OER reveals a provincial economy under strain. Business confidence continues to decline post-pandemic, real GDP-per-capita is falling, and the economy is hampered by inflation, interest rates, skills gaps and prolonged uncertainty. Despite these challenges, Ontario has avoided a significant economic contraction and inflation and labour shortages are gradually easing. Read the release.

The report presents a path forward, focused on a principled growth strategy that prioritizes a skilled, inclusive labour force, smart and sustainable infrastructure, a competitive business environment, and healthy communities.


Additionally, the OCC was proud to co-host the OER launch event with the Empire Club of Canada.

Martin Imbleau, CEO, VIA High Frequency Rail, VIA HFR-TGF delivered a thoughtful introduction highlighting the significance of investing in connectivity to spur economic prosperity. Daniel Tisch, President and CEO of the OCC followed with a keynote speech where he emphasized the importance of focusing on Ontario’s productivity growth.

Tisch was followed by a dynamic panel featuring the Hon. Caroline Mulroney, President of the Treasury Board of Ontario and Minister of Francophone Affairs, David Lebeter, President and CEO of Hydro One, and Douglas Porter, Chief Economist and Managing Director of Economics at BMO moderated by Amber Kanwar, Anchor and Reporter at BNN Bloomberg. The panel shared their thoughts on Ontario’s affordability challenge, economic outlook and business confidence.

Missed the event? You can watch it by clicking HERE.

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