Canadian Cities: Economic Outlook

By , April 8, 2010

The Rings by Justin Liew
The Rings by Justin Liew

The Conference Board of Canada released a new report offering economic forecast for 27 Canadian metropolitan centers, including 13 major urban centers. It is not looking good for Ottawa-Gatineau, while Vancouver is expected to perform the best.

Vancouver's economy is predicted to grow 4 percent this year, partly as a result of the boost from the Olympic games. Toronto ought to keep recovering from the recession and is predicted to be the second best with 3.7 percent growth. The third place belongs to Hamilton, with 3.3 percent rise. Growth of 3.2 percent is expected in Victoria and of 2.9 percent in Edmonton.
 
On the other hand, Ottawa-Gatineau, even though predicted to grow 2.8 percent this year, is likely to slow down to 2.1 percent in 2011. From 2012 to 2014, the growth is expected to be 2.4 percent there, which is not terrible. However, the overall economy in Canada  is anticipated to grow 2.9 percent  over the same time. Thus Ottawa could well end up being the worst of the 13 analyzed urban centers, the report states. 
 
Well, personally I think these are quite good results.In spite of the fact the Olympics took place in Vancouver, it is great news that Toronto is only trailing slightly behind them.

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