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Economic and Community Development Committee · 2022-01-21 · 2022.EC27.10

The filed record

2022 Economic Outlook - Presentation from Douglas Porter, Chief Economist and Managing Director, BMO Financial Group

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The decision

2022-01-21 · Economic and Community Development Committee · adopted

As filed

The Economic and Community Development Committee: 1. Received the presentation from Douglas Porter, Chief Economist and Managing Director, BMO Financial Group, headed "Outlook 2022: Ominous, or Omnipotent?", for information.

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As the city filed it

The recent dramatic rise of the Omicron variant has renewed questions about the economic outlook for Toronto. To help understand the current economic context and inform opportunities for an inclusive, sustainable economic recovery, I have invited Douglas Porter, Chief Economist and Managing Director, BMO Financial Group to do a presentation on the City's 2022 economic outlook at the January 21, 2022 meeting of the Economic and Community Development Committee.

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This presentation will include a discussion of the following: - Inflationary impacts on the economic outlook; - Demand and supply side economic updates; - Impacts of government supports on business and cultural sector recovery; - Employment updates, including jobs growth and key sectors where opportunities exist; and - Comparison between the American and Chinese economic outlook to that of Canada.

Staff recommended

Councillor Michael Thompson recommends that: 1. The Economic and Community Development Committee receive the presentation from Douglas Porter, Chief Economist and Managing Director, BMO Financial Group, for information.

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