Please note that this forecast was prepared before COVID 19 dramatically changed the near term economic outlook.
Strength in Abbotsford–Mission’s goods sector and its associated transportation and warehousing sector will drive real GDP growth of 3.1 per cent this year—the fastest growth of any Canadian metropolitan area.
The economies of Sherbrooke, Guelph, London, Kitchener–Cambridge–Waterloo, Moncton, Kingston, and St. John’s will expand by between 1.7 and 2.0 per cent in 2020.
St. Catharines–Niagara, Windsor, Trois-Rivières, Saint John, Sudbury, and Thunder Bay will all see weaker real GDP growth of between 0.7 and 1.3 per cent in 2020.
The end of vehicle production at General Motors’ assembly plant is throwing Oshawa’s economy into a tailspin this year, with real GDP set to contract by 0.5 per cent.