Metropolitan Outlook 1: Economic Insights into 25 Canadian Metropolitan Economies: Fall 2002

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

Document Highlights

The Halifax economy, driven by a recovery in services and continuing growth in goods production, will do well this year.

For the second consecutive year, Quebec City’s GDP growth will exceed 4 per cent in 2002.

Montreal’s booming labour and housing markets are fuelling the healthy growth rate projected for this year.

Led by a rebound in the service sector, Ottawa is expected to bounce back in 2003, with GDP increasing by 3.4 per cent.

Solid growth is forecast for Toronto in 2002 and 2003, following a mild slowdown in 2001.

Winnipeg’s goods and services sectors are both performing well this year, leading to projected GDP growth of 3.3 per cent.

Increased production in manufacturing and construction is key to GDP growth of 2.9 per cent this year in Regina.

Strong consumption activity and a housing boom will help to offset weaker output growth in Calgary’s primary industries.

Due to consumer activity, Edmonton did fairly well during the recent rollercoaster ride of the energy markets.

Vancouver’s economy is recovering much more quickly than anticipated six months ago.

Consumer spending is a critical factor in offsetting the recent large job losses in Victoria’s public sector.