Niagara Economic Update November, 2024
This report was presented to the Niagara Region Planning and Economic Development Committee on November 6, 2024. It provides an update on the regional economy, including:
- Despite a slowing economy, Niagara outperformed Ontario and is forecasted to rebound and grow substantially through 2025 in line with anticipated reductions in the policy interest rate.
- From Q1 2023 to Q3 2024, GDP growth in Niagara was minimal at 1.4%, though it outperformed Ontario’s growth of 0.8%.
- Growth in Niagara is expected to rebound, with a projected rate of 3.2% from Q3 2024 to Q4 2025.
This report references the Niagara Economic Update report, May 8, 2024.
Published By: Niagara Region Economic Development
Publication Date: November 6, 2024
Click here to access Niagara Region Economic Development November 2024
