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Economic Viewpoint

Business Investment Will Have to Pick Up in Quebec and Ontario

August 13, 2019
François Dupuis, Vice-President and Chief Economist
Mathieu D’Anjou, Deputy Chief Economist • Hélène Bégin, Senior Economist

A few months ago, Statistics Canada’s survey on the 2019 investment outlook suggested it would be a very good year. The wind seems to have shifted quickly, with global uncertainty intensifying. Will businesses in Quebec and Ontario still go ahead with all their projects? Along with weaker SME confidence and business earnings, the labour shortage is another factor putting the brakes on investment. Despite all the obstacles, investments are imperative in order to boost productivity. Time is of the essence for Quebec, which is substantially behind internationally. Ontario must also continue its efforts to avoid losing more ground.