Metropolitan Outlook 1: Economic Insights into 25 Canadian Metropolitan Economies: Winter 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

• A deceleration in services sector growth will lead to slower overall economic expansion in Halifax in 2005.
• The Quebec City economy is expected to enjoy broadly based growth of 3 per cent in 2005.
• Manufacturing and services industries are forecast to boost Montréal’s real GDP growth to 3.2 per cent in 2005.
• Ottawa’s economy is forecast to cool somewhat in 2005, as the pace of federal government hiring slows.
• After expanding by an estimated 5.1 per cent in 2004, Toronto’s economy is expected to stay strong in 2005.
• Stronger population growth in Winnipeg is expected to boost domestic demand.
• Following a strong showing in 2004, real GDP growth in Regina is set to subside in 2005, coming in at 1.1 per cent.
• Continued strength in the energy sector is expected to boost economic activity in Calgary.
• Manufacturing in Edmonton is expected to rebound in 2005, but real GDP growth is forecast to slow to 2.4 per cent.
• Robust services sector output growth will allow Vancouver’s economy to grow by 3 per cent in 2004.
• Although tourism is projected to grow in 2005, Victoria’s economy will increase by just 1.2 per cent.