This R Markdown module creates a summary of the Bank of Montreal’s Provincial Economic Outlook. The following packages are used to create a dynamic report:
pdftools to scrape data from the PDF into R;
tidyverse to clean and manipulate the data;
plotly to create interactive charts.
gt to create a nice looking display table.
| Date | Canada | British Columbia | Alberta | Saskatchewan | Manitoba | Ontario | Quebec | New Brunswick | Nova Scotia | P.E.I | Nfld & Labrador |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Real GDP Growth (y/y%) | |||||||||||
| 2020 | -5.2 | -3.4 | -7.9 | -4.9 | -4.6 | -5.1 | -5.5 | -3.2 | -2.5 | -1.7 | -5.4 |
| 2021 | 4.5 | 4.8 | 6.0 | 2.8 | 3.0 | 4.2 | 6.0 | 2.6 | 3.2 | 2.3 | 3.3 |
| 2022 | 4.0 | 4.6 | 4.4 | 3.4 | 3.5 | 4.1 | 3.7 | 2.3 | 2.5 | 2.5 | 2.0 |
| 2023 | 3.5 | 3.7 | 3.8 | 2.9 | 3.0 | 3.7 | 3.5 | 1.5 | 1.8 | 2.0 | 1.5 |
| Employment Growth (y/y%) | |||||||||||
| 2020 | -5.1 | -6.5 | -6.5 | -4.6 | -3.7 | -4.7 | -4.8 | -2.6 | -4.7 | -3.2 | -5.9 |
| 2021 | 5.1 | 6.6 | 5.1 | 2.6 | 3.5 | 4.9 | 4.2 | 2.6 | 5.4 | 3.8 | 2.9 |
| 2022 | 3.2 | 2.9 | 3.2 | 1.6 | 2.0 | 4.2 | 2.6 | 2.1 | 2.0 | 3.4 | 2.1 |
| 2023 | 2.1 | 1.8 | 1.5 | 1.2 | 1.2 | 2.0 | 1.2 | 0.9 | 1.0 | 0.4 | 0.0 |
| Unemployment Rate (%) | |||||||||||
| 2020 | 9.6 | 9.0 | 11.6 | 8.4 | 8.1 | 9.6 | 8.9 | 10.1 | 9.8 | 10.7 | 14.2 |
| 2021 | 7.4 | 6.5 | 8.7 | 6.6 | 6.4 | 8.0 | 6.1 | 9.0 | 8.4 | 9.3 | 12.9 |
| 2022 | 5.7 | 4.8 | 6.7 | 5.4 | 5.0 | 5.9 | 4.7 | 8.0 | 7.9 | 8.2 | 11.6 |
| 2023 | 5.5 | 4.4 | 6.1 | 4.7 | 4.7 | 5.0 | 4.4 | 7.6 | 7.3 | 8.1 | 11.4 |
| Housing Starts (000's) | |||||||||||
| 2020 | 219.0 | 38.0 | 24.3 | 3.1 | 7.3 | 81.2 | 54.7 | 3.6 | 4.9 | 1.0 | 0.8 |
| 2021 | 280.0 | 46.5 | 32.5 | 4.2 | 8.0 | 104.0 | 72.0 | 3.9 | 6.5 | 1.2 | 1.3 |
| 2022 | 250.0 | 45.0 | 31.0 | 3.0 | 6.7 | 95.0 | 60.0 | 3.0 | 4.0 | 1.3 | 0.6 |
| 2023 | 230.0 | 42.0 | 31.0 | 3.0 | 6.5 | 84.0 | 55.0 | 2.8 | 4.0 | 1.2 | 0.6 |
| Consumer Price Index (y/y%) | |||||||||||
| 2020 | 0.7 | 0.8 | 1.1 | 0.6 | 0.5 | 0.6 | 0.8 | 0.2 | 0.3 | 0.0 | 0.2 |
| 2021 | 3.3 | 2.9 | 3.2 | 2.6 | 3.1 | 3.5 | 3.8 | 3.5 | 3.8 | 5.0 | 3.5 |
| 2022 | 3.5 | 3.2 | 3.6 | 3.0 | 3.2 | 3.5 | 3.6 | 3.4 | 3.5 | 3.0 | 3.0 |
| 2023 | 2.5 | 2.5 | 2.8 | 2.6 | 2.3 | 2.5 | 2.3 | 2.1 | 2.3 | 2.2 | 2.5 |
| Budget Balance ($ millions) | |||||||||||
| FY20/21 | −327,700 | −5,468 | −16,962 | −1,127 | −2,117 | −16,400 | −4,226 | 409 | −342 | −6 | −1,491 |
| % of GDP | -14.8 | -1.8 | -5.8 | -1.4 | -2.9 | -1.9 | -0.9 | 1.1 | -0.7 | -0.1 | -4.7 |
| FY21/22 | −144,500 | −1,732 | −5,822 | −2,708 | −1,123 | −21,500 | −3,559 | 89 | 108 | −112 | −595 |
| % of GDP | -6.0 | -0.5 | -1.7 | -3.1 | -1.5 | -2.3 | -0.7 | 0.2 | 0.2 | -1.4 | -1.6 |
| Net Debt ($ millions)1 | |||||||||||
| FY21/22 | 1,233,800 | 59,897 | 66,791 | 16,714 | 29,102 | 402,432 | 198,564 | 13,431 | 17,976 | 2,634 | 16,700 |
| % of GDP | 48.0 | 17.4 | 19.2 | 19.3 | 37.9 | 42.6 | 39.9 | 34.1 | 35.9 | 33.1 | 45.5 |
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1
federal = accumulated deficit; Bolded values represent forecast
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