Metropolitan Outlook 2B: Economic Insights into 27 Canadian Metropolitan Economies: Summer 2006
This publication focuses on the metropolitan economies of Trois-Rivières, Sherbrooke, St. Catharines-Niagara, London, Sudbury, Thunder Bay, Saskatoon and Abbotsford.
- After surging by 3.3 per cent last year, economic growth in Trois-Rivières will be held back this year by the strong Canadian dollar, declining housing starts and lower income gains.
- The high-flying loonie is also hurting the competitiveness of Sherbrooke's export-oriented products, limiting overall economic growth to 2.4 per cent in 2006.
- Economic growth in St. Catharines–Niagara will be a relatively sluggish 1.2 per cent this year because of the struggling manufacturing and tourism sectors.
- Real GDP growth in the London area is forecast to slow to 2.1 per cent in 2006 because of further manufacturing restructuring and a moderate slowdown in the services sector.
- Continued strength in mining will help offset meagre services sector growth in Greater Sudbury this year, allowing the area's real GDP growth to remain fairly steady at 1.6 per cent.
- Thunder Bay will continue to suffer from weakness in pulp and paper manufacturing, restricting overall growth to 0.9 per cent this year.
- Widespread strength in Abbotsford’s economy will allow real GDP growth to reach 3.5 per cent in 2006, lifting employment growth to a solid 5.8 per cent.