Metropolitan Outlook 2A: Economic Insights into 27 Canadian Metropolitan Economies: Spring 2006
This publication focuses on the metropolitan economies of St. John’s, Saint John, Saguenay, Oshawa, Kingston, Kitchener, and Windsor.
- After taking a breather in 2004 and 2005, real GDP growth in St. John’s is forecast to accelerate to 3.3 per cent this year.
- Real GDP in Saint John is forecast to increase by 2.7 per cent in 2006, thanks to a pickup in activity in the services sector and a recovery in the manufacturing industry.
- A decline in residential investment will hamper growth in the construction sector and in the finance, insurance and real estate industry this year, limiting real GDP growth to 2.1 per cent in Saguenay.
- Robust domestic demand will more than offset massive restructuring at General Motors, allowing economic growth in the Oshawa CMA to remain strong over the forecast horizon.
- Notwithstanding softness in both the manufacturing and construction sectors, real GDP growth in Kitchener is expected to post a gain of 2.8 per cent this year.
- Windsor’s economic growth is projected to accelerate over this year and next, thanks to modest improvement in the manufacturing sector and to a surge in non-residential investment.
- The manufacturing and construction sectors are expected to rebound in 2006, allowing real GDP growth in the Kingston CMA to surpass the 2 per cent mark for the first time in four years.