2003-2004 Budget The Québec Economy: Recent Developments and Outlook
TABLE 1.2
ECONOMIC OUTLOOK FOR QUÉBEC
(percentage change)
| | 2002 | 2003 | |||
|---|---|---|---|---|---|
| OUTPUT | |||||
| — Real gross domestic product | 4.3 | 2.5 | |||
| — Gross domestic product | 5.8 | 5.2 | |||
COMPONENTS OF EXPENDITURE | |||||
| — Consumption | 4.5 | 4.7 | |||
| — Housing starts (in thousands) | 42.5 | 40.2 | |||
| — Business nonresidential investment | -1.0 | 4.1 | |||
| — International exports of goods1 | -0.8 | 0.8 | |||
COMPONENTS OF INCOME AND PRICES | |||||
| — Wages and salaries | 5.5 | 4.2 | |||
| — Personal income | 3.6 | 4.0 | |||
| — Corporate profits | 16.3 | 11.6 | |||
| — Consumer prices | 2.0 | 3.0 | |||
LABOUR MARKET | |||||
| — Labour force | 3.2 | 1.8 | |||
| — Employment | 3.4 | 1.7 | |||
| — in thousands | 118 | 61 | |||
| — Unemployment rate2 | 8.6 | 8.6 | |||
FINANCIAL MARKETS — CANADA | |||||
| — 3-month Treasury bills2 | 2.6 | 3.2 | |||
| — 10-year Canadian bonds2 | 5.3 | 5.2 | |||
| — Exchange rate (CAN$ in US¢) | 63.7 | 71.2 | |||
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