Is Ontario falling behind the other provinces?
September 24, 2007 | 01:29 PM
During the Sept. 20 leaders' debate, PC Leader John Tory bemoaned the drooping Ontario economy, citing the Bank of Nova Scotia's Global Outlook Forecast for 2007.
The report, released in May, says Ontario is experiencing the slowest growth rate of all provinces in 2007, forecasted to be at about two per cent in real gross domestic product, the measure of all goods and services.
In addition to the sluggish growth in the manufacturing sector, the province is also lagging in retail sales and is tied with the Atlantic Provinces for last place in job creation, the report said.
Other reports were more optimistic. TD Bank Financial Group, for example, pegged Ontario's forecast at 2.5 per cent growth this year, trailing Alberta, B.C., Saskatchewan and Manitoba, and just slightly lower than the projected overall Canadian growth rate of 2.7 per cent.
"You have allowed us to become last in so many areas," Tory told Liberal Leader Dalton McGuinty during the debate.
Do you think Ontario is losing ground compared to the other provinces?