Metropolitan Outlook 1: Economic Insights into 27 Canadian Metropolitan Economies: Spring 2009
This publication focuses on the metropolitan economies of Halifax, Quebec City, Montreal, Ottawa-Gatineau, Toronto, Hamilton, Winnipeg, Regina, Saskatoon, Calgary, Edmonton, Vancouver, and Victoria.
Report by
Alan Arcand
,
Maxim Armstrong
,
Mario Lefebvre
,
Jane McIntyre
,
Greg Sutherland
,
Robin Wiebe
The Conference Board of Canada, 79 pages, March 2009
Document Highlights:
- Halifax’s economy will remain flat this year.
- Québec City will see its economy edge up by 0.6 per cent this year thanks to public infrastructure spending.
- Montréal’s economy will weaken in 2009, falling by 0.5 per cent and into recession for the first time since 1991.
- Ottawa–Gatineau’s economy will grow this year, but only by 0.2 per cent.
- With the country in recession, Toronto’s real GDP is forecast to contract by 1.6 per cent in 2009.
- Ongoing weakness in manufacturing will cause Hamilton’s economy to fall 1.9 per cent in 2009.
- Winnipeg’s GDP is forecast to grow by 1.1 per cent in 2009, less than half the 2008 pace.
- Recessionary conditions elsewhere will limit Regina’s economic growth to 1.6 per cent this year.
- Saskatoon will lead the way in 2009 with real GDP growth of 1.7 per cent.
- Calgary will suffer its first GDP contraction since 1989, as its economy shrinks by 0.1 per cent.
- Lower oil prices will drag Edmonton’s economy down by 0.2 per cent this year.
- Vancouver’s economy will shrink by 0.9 per cent this year—the first contraction since tracking began in 1987.
- With domestic demand falling, real GDP growth in Victoria is expected to fall 0.3 per cent in 2009.
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