NL Leads Canadian Economic Growth as Ontario Lags

A new report by Signal49 Research predicts that Newfoundland and Labrador will lead Canada's economic growth for the second year in a row, expanding by 3.7% in 2026 due to higher crude prices and offshore oil projects.

The province's economy is expected to outpace other regions despite demographic pressures limiting long-term growth.

Ontario, on the other hand, will post the weakest growth among all Canadian provinces, according to the report.