Metropolitan Outlook 1: Economic Insights into 13 Canadian Metropolitan Economies, Spring 2016

Canadian Economics

May 31, 2016

Urban City Economic Analysis

Author: Alan Arcand, Christopher Heschl, Constantinos Bougas, Henry Diaz, Jane McIntyre, Robin Wiebe

$2,970.00

Real GDP in Halifax will grow by 2.8 per cent this year, with the manufacturing and construction sectors leading the way.
The weak Canadian dollar will benefit manufacturing and tourism, helping Québec City’s GDP grow by 1.9 per cent in 2016.
Montréal’s GDP will rise 2 per cent in 2016, thanks to strength in manufacturing, construction, and the private services sector.
Ongoing strength in non-residential construction and renewed growth in housing starts will help Ottawa–Gatineau’s GDP expand by 1.6 per cent in 2016.
Toronto’s GDP will grow by 2.6 per cent in 2016, with notable help from non-residential construction and from wholesale and retail trade.
Strength in construction and manufacturing will support growth of 2.1 per cent in Hamilton’s economy this year.
Winnipeg’s economy will grow by 2.3 per cent this year, driven by an improved outlook for the local goods sector.
Weak prices for oil and other commodities will limit Regina’s economic growth to 0.7 per cent this year.
Saskatoon’s GDP will edge up by 0.9 per cent in 2016, the result of ongoing weakness in commodities prices, particularly oil.
Calgary’s economy will contract by another 1 per cent in 2016 as low oil prices continue to hamper the region’s economy.
Weak oil prices mean Edmonton’s GDP will shrink by another 0.6 per cent this year.
Broad-based strength across most industries will help GDP expand by 3.2 per cent in Vancouver in 2016, making it this report’s growth leader.
Victoria’s GDP will rise 2.3 per cent in 2016 thanks to non-residential construction and renewed public administration growth.

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This publication focuses on the metropolitan economies of Halifax, Quebec City, Montreal, Ottawa-Gatineau, Toronto, Hamilton, Winnipeg, Regina, Saskatoon, Calgary, Edmonton, Vancouver, and Victoria.