Major City Insights: London—July 2022

Name: Major City Insights: London—July 2022
SKU: 11717-0405-WEB
Availability: InStock

Canadian Economics

July 12, 2022

Urban City Economic Analysis

8 min read

Author: The Conference Board of Canada

$985.00

Although the threat of COVID-19 is far from over, the economies of most major cities across Canada are back on track and weathering the storm of soaring inflation, rising interest rates, and—in many cities—cooling housing markets. Employment will keep growing this year, particularly in sectors of the economy hardest hit by the pandemic.

This edition of our Major City Insights provides new forecasts for growth in 11 major cities in Canada as of June 9, 2022.

This publication focuses on the London metropolitan economy.

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Document Highlights

After contracting in 2020, London’s economy bounced back in 2021. Real GDP surpassed its pre-pandemic levels last year, growing by 7.5 per cent.

London’s economy is expected to expand another 4.4 per cent in 2022 and 3.0 per cent in 2023.

Despite ongoing supply chain issues, output in London’s manufacturing sector grew 4.6 per cent last year and is expected to increase another 4.6 per cent in 2022, partly thanks to a boost from the opening of Maple Leaf Foods’ massive new chicken-processing plant.

In line with a decline in housing starts this year and next, output growth in the finance, insurance, and real estate sector is also expected to slow.