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ECONOMy

4

Recent economic DEvELOPMENTs AND OUTLOOk

Real gRoss domestic pRoduct (PERCENTAgE ChANgE)

3

ThE ECONOMy Is IN gOOD shAPE

2.5

2.3

2.2

2

1

0

2004

2005

2006

Sources : Institut de la statistique du Québec and ministère des Finances.

unemployment Rate (PER CENT)

15

13

2.4

2007

Québec’s economy grew by 2.2% in 2005:

  • domestic demand remained strong;

  • consumer spending rose 3.6%, its best performance in eight years;

  • housing starts were robust, posting their second-best performance since 1988;

  • exports continued to grow, with a rise of 2.7%, their strongest growth since 2000;

  • employment continued to grow:

    • 36 800 new jobs created, most of them full-time;

    • at 8.3%, the unemployment rate is at its lowest point

since 1975.

In 2006, economic growth should accelerate to 2.5%:

  • this forecast is the same as the average private-sector forecast;

  • growth in exports will accelerate to 4.2%;

  • 55 200 new jobs will be created, reducing the unemployment

rate to 8.2%;

  • the inflation rate should remain relatively low at 2.3%.

11

9

7

1983 1987 1991 1995 1999

2003

2007

Sources : Institut de la statistique du Québec and ministère des Finances.

Real GDP growth

2.2

2.5

Interest rates1

Consumption

3.6

2.7

Treasury bills (3 months)

Housing starts (thousands)

50.9

42.9

Bonds (10 years)

Total exports

2.7

4.2

Exchange rate (US¢)

Employment rate1

8.3

8.2

Job creation (thousands)

36.8

55.2

Consumer price index

2.3

2.3

economic indicatoRs (PERCENTAgE ChANgE)

Québec

1 Per cent

2005

2006

Canada

2.7

3.7

4.1

4.4

82.5

85.1

2005

2006

ECONOMIC AND FINANCIAL PROFILE OF QUÉBEC

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