The Conference Board of Canada is predicting Ontario will see more manufacturing layoffs in the near future, but won't slide into a recession. The board says Ontario's economy is expected grow by 2.1 percent this year, and 2.9 percent in 2009. That's higher than Finance Minister Dwight Duncan's projections of 1.2 percent growth this year and 2.3 percent in 2009.
Among the provinces, the board says Manitoba's economy is expected to lead the way with growth of 3.7 percent this year. Unlike Ontario and Quebec, Manitoba's manufacturing sector is booming and expected to grow significantly over the next two years due to large orders for aircraft parts and buses.
The board says Ontario, like Quebec, will continue to struggle with a soaring Canadian dollar and a slowing U.S. economy.