Saskatoon to top Calgary on economic growth list: report
Last Updated: Thursday, September 13, 2007 | 9:55 AM CT
CBC News
Powered by an influx of workers seeking lower living costs, Saskatoon will overtake Calgary for top spot on a list of fastest-growing economies, the Conference Board said Thursday.
| City | 2007 growth forecast (real GDP) |
| Saskatoon | 4.7% |
| Calgary | 4.4% |
|
Winnipeg |
3.7% |
| Edmonton | 3.6% |
|
Regina |
3.5% |
| Vancouver | 2.9% |
| Victoria | 2.8% |
| Toronto | 2.7% |
| Quebec City | 2.6% |
| Halifax | 2.5% |
| Ottawa-Gatineau | 2.3% |
| Montreal | 2.1% |
| Hamilton | 1.3% |
Saskatoon's growth rate for this year is expected to come in at 4.7 per cent, topping the 4.4 per cent expected for Calgary, which has topped the rankings for the past two years. Growth in 2006 in Calgary hit 7.7 per cent.
Winnipeg, Edmonton and Regina are all expected to post growth above three per cent this year, the Conference Board added.
While the West has been enjoying solid growth, many cities in Eastern Canada have been slowed by problems in the manufacturing sector.
In Toronto, the rising dollar and soft U.S. demand will limit growth to 2.7 per cent this year. Employment outside of manufacturing has kept consumer spending buoyant despite the troubles in manufacturing.
Quebec City is actually bucking the trend in the manufacturing sector, with growth in 2006 and the early part of this year. New orders at the Davie shipyard have helped bolster the sector. The Conference Board expects Quebec City's economy will grow by 2.6 per cent this year.
The Conference Board report covered only 13 of the largest cities in the country. The Ottawa-based think-tank will report on 14 mid-sized cities in the winter 2008 edition of its report.
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