Metropolitan Outlook 1: Economic Insights into 25 Canadian Metropolitan Economies: Spring 2005

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

Document Highlights

• Halifax’s real GDP growth is expected to decelerate to 2.4 per cent in 2005, as the manufacturing sector slows.
• Economic activity is expected to pick up in Quebec City this year, as the services sector bounces back.
• Widespread expansion in the services sector is expected to boost Montréal’s real GDP by 2.9 per cent in 2005.
• Ottawa’s economy is forecast to cool in 2005, as the pace of federal government hiring slows sharply.
• Real GDP growth in the Toronto CMA is expected to decelerate from 4.6 per cent in 2004 to 2.7 per cent this year.
• In line with continued sound economic activity, employment is forecast to rise in Winnipeg this year.
• Following a nation-leading gain in 2004, real GDP growth is set to slow to 1.1 per cent in Regina this year.
• The goods-producing industries are expected to lift overall economic growth to 4.6 per cent in Calgary this year.
• After a strong result last year, Edmonton’s economy is forecast to increase by a further 2.9 per cent in 2005.
• Non-residential construction and population increases will support Vancouver’s economy over the forecast.
• The strong Canadian dollar will bite into tourism activity, limiting economic growth in Victoria in 2005.