The "Elite Four" of Canadian economic growth

by Ephraim Vecina20 Jun 2016
The latest outlook released by the Conference Board of Canada painted a picture of moderate to strong growth on the road to gradual recovery, with four provinces leading the way.
As reported by CBC News, the Board projected national real GDP to grow by 1.5 per cent by the end of this year. Even better economic performance is expected for 2017 as infrastructure spending would begin to bear fruit.
The largest contributors to this charge are the provinces that will experience at least 2 per cent GDP growth this year—namely, British Columbia, Ontario, Manitoba, and Prince Edward Island.
B.C. is predicted to exhibit the fastest growth, pegged at 3 per cent for both 2016 and 2017. Apart from consistently strong housing performance due to the in-demand Vancouver market, other sectors expected to aid the province’s growth are construction, forestry, and transportation.
On the other hand, Ontario GDP growth is projected for 2.8 per cent in 2016 and 2.6 per cent in 2017. Toronto real estate will continue to be a highlight, and automotive exports are also expected to step up.
Meanwhile, Manitoba will see the agriculture and services sectors pull its economic performance upwards to GDP growth rates of 2.1 per cent in 2016 and 2.6 per cent in 2017.
Finally, Prince Edward Island is expected to see considerable output in the housing and manufacturing segments that would lead to 2.3 per cent (2016) and 1.7 per cent (2017) GDP growth.

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