Ontario Economic Report 2025

Last week, the Ontario Chamber of Commerce (OCC) released the ninth annual Ontario Economic Report (OER), providing the latest data on Ontario's economy and business confidence, highlighting the year that was 2024 and the challenges that lie in the year ahead.

The economy today can be summed up in one word: fragile—handle with care. While business confidence has improved compared to last year, ongoing tariff threats, geopolitical uncertainty, and affordability challenges threaten to undo these gains. Our survey highlights the top priorities for businesses in the year ahead: simplifying the tax system, accelerating affordable housing development, and strengthening health care capacity. It also paints a picture of the economic outlook and the need to make significant investments and take action to support a competitive business and trade environment, qualified people, diverse talent, healthy and sustainable communities, and growth-enabling infrastructure. This will be critical to ensuring sustained economic growth and stability.

Read the OER.