Each quarter, Ontario's Ministry of Finance releases an update on Ontario's economic accounts.
The numbers for the first quarter of 2014 were released in the heat of summer, and on the same day that the provincial budget was re-introduced. As a result, it went largely unnoticed.
A closer look tells us this update deserves more attention than it got.
Here are some highlights (or lowlights as the case may be):
1. Real GDP grew by 0.1 per cent (0.6 per cent annualized) in the first quarter of 2014. This isn't heartening news. That's 0.2 percentage points lower than the first quarter of 2013 and in fact, lower than the first quarter of 2011, before the Ontario government went into austerity mode with spending cuts and wage freezes.