Mid-Sized Cities Outlook: Economic Insights Into Select Canadian Cities—2016
Recognizing the valuable role that Canada’s mid-sized cities play as regional hubs and economic engines in their respective areas, Mid-Sized Cities Outlook 2016 provides an important snapshot of these cities’ economic situation and performance over the past decade or so.
- Timmins’ economy will remain healthy this year, expanding by 1.9 per cent, thanks to continued goods sector strength.
- A recovery in transportation and warehousing output and rising non-residential construction will help Sault Ste. Marie’s real GDP growth edge up to 0.7 per cent in 2016.
- Brandon’s economy will get back on track this year, with widespread gains across most sectors leading to overall real GDP growth of 2.2 per cent.
- With real GDP growth of 1.3 per cent in 2016, Lethbridge’s economy will outperform the wider provincial economy thanks to its dependence on the agricultural industry, especially cattle, and modest exposure to oil and gas.
- Red Deer’s economy will contract by 0.8 per cent this year as a result of ongoing weakness in the oil and gas sector and related industries.
- Continued contractions in manufacturing, construction, transportation and warehousing, and wholesale and retail trade—all hurt by the slump in oil prices—with leave Medicine Hat’s real GDP 1.4 per cent lower in 2016.
- Renewed gains in construction output, steady growth in the forestry industry, and ongoing strength in the finance, insurance, and real estate industry will help real GDP growth in Prince George reach 2.4 per cent in 2016.
Table of Contents
Recent Economic History of Canada’s Mid-Sized Cities
Histoire économique récente des villes canadiennes de taille moyenne
- Red Deer
- Medicine Hat