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Tuesday, February 22, 2011

[RECOGNITION] Economic Growth Slow in Most Canadian Cities in 2011 Except in Windsor

Conference Board of Canada

Ottawa, February 22, 2011–Canada's slowing economy will weigh on growth in most of the 27 census metropolitan areas (CMAs) covered in the Winter 2011 edition of The Conference Board of Canada's Metropolitan Outlook. Only Windsor, Calgary, Oshawa, Regina, Saskatoon, London, Sherbrooke, Winnipeg, and Thunder Bay can expect higher real gross domestic product (GDP) growth this year than in 2010.
"Most Canadian cities rebounded well from the recession. This year, however, a weaker domestic economy, winding down of federal and provincial government stimulus measures, and uncertain economic conditions in the United States will result in stable or lower growth in a majority of cities," said Mario Lefebvre, Director, Centre for Municipal Studies.
Windsor is forecast to post the fastest growing metropolitan economy in 2011. Following growth of 3.5 per cent in 2010, real GDP is forecast to rise 3.9 per cent this year. Construction activity will receive a big boost when the $1.6-billion Windsor-Essex Parkway begins later this year. Nevertheless, GDP in 2011 will still be below 2007 levels and Windsor's economy remains fragile. The battered manufacturing sector is convalescing and its level of activity remains below the peak reached in 2000.
For the full article, visit: http://www.conferenceboard.ca/press/newsrelease/11-02-22/economic_growth_to_slow_in_most_canadian_cities_in_2011.aspx?pf=true

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