This publication focuses on the metropolitan economies of Halifax, Quebec City, Montreal, Ottawa-Gatineau, Toronto, Hamilton, Winnipeg, Regina, Saskatoon, Calgary, Edmonton, Vancouver, and Victoria.
Metropolitan Outlook 1: Economic Insights into 13 Canadian Metropolitan Economies, Spring 2016
Metropolitan Outlook 1: Economic Insights into 13 Canadian Metropolitan Economies, Spring 2016
Urban City Economic Analysis
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- Real GDP in Halifax will grow by 2.8 per cent this year, with the manufacturing and construction sectors leading the way.
- The weak Canadian dollar will benefit manufacturing and tourism, helping Québec City’s GDP grow by 1.9 per cent in 2016.
- Montréal’s GDP will rise 2 per cent in 2016, thanks to strength in manufacturing, construction, and the private services sector.
- Ongoing strength in non-residential construction and renewed growth in housing starts will help Ottawa–Gatineau’s GDP expand by 1.6 per cent in 2016.
- Toronto’s GDP will grow by 2.6 per cent in 2016, with notable help from non-residential construction and from wholesale and retail trade.
- Strength in construction and manufacturing will support growth of 2.1 per cent in Hamilton’s economy this year.
- Winnipeg’s economy will grow by 2.3 per cent this year, driven by an improved outlook for the local goods sector.
- Weak prices for oil and other commodities will limit Regina’s economic growth to 0.7 per cent this year.
- Saskatoon’s GDP will edge up by 0.9 per cent in 2016, the result of ongoing weakness in commodities prices, particularly oil.
- Calgary’s economy will contract by another 1 per cent in 2016 as low oil prices continue to hamper the region’s economy.
- Weak oil prices mean Edmonton’s GDP will shrink by another 0.6 per cent this year.
- Broad-based strength across most industries will help GDP expand by 3.2 per cent in Vancouver in 2016, making it this report’s growth leader.
- Victoria’s GDP will rise 2.3 per cent in 2016 thanks to non-residential construction and renewed public administration growth.
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