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Robert Hogue | Senior Economist | 416-974-6192 | robert.hogue@rbc.com

58.6

50.4

64.5 65.6

59.0

66.0

60.456.7

52.849.4

54.6

0

10

20

30

40

50

60

70

80

Canada NL PE NS NB QC ON MB SK AB BC

Diffusion index, > 50 means majority expects stronger performance, Jan-Oct 2019

Quebec: Small Business Confidence

Sources : Canadian Federation of Independent Business, RBC Econommics

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

% Change - Year to Year

Quebec: Population growth

Source: Statistics Canada, RBC Economics

Quebec forecast at a glance% change unless otherw ise specif ied

2017 2018 2019F 2020F 2021F

Real GDP 2.8 2.5 2.5 2.0 1.6Nominal GDP 5.0 4.8 4.0 3.8 3.4Employment 2.2 0.9 1.7 1.1 0.2Unemployment Rate (%) 6.1 5.5 5.1 5.2 5.9Retail Sales 5.5 2.9 2.4 2.2 1.8Housing Starts (Thousands of Units) 46.5 46.9 49.9 47.5 43.5Consumer Price Index 1.1 1.7 2.1 1.7 1.6