TORONTO - Ontario's economy is expected to register growth of just 0.7 per cent this year, according to the latest forecast from RBC Economics.
The low growth rate would represent the weakest pace of expansion for the province since the last recession in the early 1990s.
RBC economist Craig Wright says Ontario's exports have been pounded by the high Canadian dollar and a downturn in the U.S. economy.
Poor weather and a strike at a major U.S. motor vehicle parts company that disrupted Ontario's auto production also played a role.
The bank says little improvement is expected in Ontario's auto sector amid plummeting U.S. sales and ongoing restructurings in the industry.
RBC also says other segments of Ontario economy, such as residential construction, job growth and consumer spending, continue doing well.
