Metropolitan Outlook 1: Economic Insights into 13 Canadian Metropolitan Economies: Spring 2012

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

Document Highlights

• Halifax’s economy will expand 2.2 per cent this year, limited by slower manufacturing growth and weaker construction.
• Québec City’s GDP growth will ease to 1.9 per cent this year as growth in construction and services slows.
• Montréal’s economy will grow by 1.7 per cent in 2012 as construction activity contracts.
• The federal government’s fiscal austerity plan will limit Ottawa–Gatineau’s GDP growth to 1.6 per cent in 2012.
• Gains in manufacturing and wholesale and retail trade will help Toronto’s economy grow by 2.3 per cent in 2012.
• Weaker construction activity will limit Hamilton’s GDP growth to 1.8 per cent this year.
• Winnipeg’s economy will grow by 2.4 per cent in 2012 as manufacturing expands for the first time in four years.
• Strength in services—especially wholesale and retail trade—will lead to GDP growth of 2.7 per cent in Regina this year.
• Construction and manufacturing will propel Saskatoon’s GDP growth to a nation-leading 3.6 per cent in 2012.
• Calgary’s GDP growth of 3.5 per cent in 2012 will be supported by improved consumer spending and manufacturing.
• Strong consumer spending will help sustain economic growth of 3.2 per cent in Edmonton this year.
• Vancouver’s GDP will grow by 2.5 per cent in 2012 as construction and services activity moderate.
• Fiscal restraint and lower housing starts will limit Victoria’s economic growth to 1.6 per cent this year.