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Quebec’s economy through the lens of GDP Gains outweigh losses

May 1, 2015
François Dupuis, Vice-President and Chief Economist • Joëlle Noreau, Senior Economist

For 2014, the data shows that most of the Quebec economy’s industries made upside contributions to last year’s real GDP of 1.4%. Although doing this exercise for a single year is useful, the period is too short to pinpoint the strengths that have kept Quebec going since the recession. A look at the 2009–2014 period reveals that high-tech industries were not the only ones that fostered growth. Moreover, an economic analysis makes it possible to better establish the share of industries we too often tend to confuse with government budget items. The pillars of growth are not always what we assume. Lastly, in light of the forces present in the first half of the year, the outlook for Quebec’s economy is good for 2015.