Metropolitan Outlook 1: Economic Insights into 27 Canadian Metropolitan Economies: Spring 2006
This publication focuses on the metropolitan economies of Halifax, Quebec City, Montreal, Ottawa-Gatineau, Toronto, Hamilton, Winnipeg, Regina, Saskatoon, Calgary, Edmonton, Vancouver, and Victoria.
- Ongoing struggles in the goods sector will limit real GDP growth in Halifax to 2.6 per cent in 2006.
- Modest gains in the goods sector will also cause real GDP growth in Québec City to slow to 2.2 per cent in 2006.
- Real GDP growth will accelerate to 2.6 per cent in 2006, as manufacturing in Montréal recovers from a slump.
- Ottawa-Gatineau’s high-tech sector is expected to help lift economic growth to 2.8 per cent in 2006.
- Toronto’s real GDP growth is forecast to accelerate from 3.1 per cent in 2005 to 3.4 per cent in 2006.
- Improved manufacturing activity will allow economic growth in the Hamilton CMA to accelerate in 2006 and 2007.
- Employment is set to rebound in Winnipeg this year, keeping personal income and retail sales growth healthy.
- Regina’s economic growth is forecast to decelerate to a more modest 1.9 per cent in 2006.
- Slower growth in consumer spending will ease Saskatoon’s economic growth to a still respectable 2.8 per cent.
- Calgary’s real GDP growth is forecast to remain robust this year, coming in at 4 per cent.
- After posting the fastest rate of increase last year, Edmonton’s real GDP will grow by 3.6 per cent this year.
- Strong construction activity will support economic growth of 3.8 per cent in Vancouver in 2006.
- Following a sound increase of 3.6 per cent in 2005, real GDP in Victoria is set to grow by 2.4 per cent this year.