The outlook isn’t as rosy as it was six months ago, but Winnipeg will still be one of the country’s leading economic performers this year, according to the Conference Board of Canada.
The Ottawa-based think tank predicts the Winnipeg Census Metropolitan Area (CMA) will ring up real GDP growth of 1.1 per cent this year — third best among the 13 CMAs covered in its Spring 2009 Metropolitan Outlook report released this morning.
That’s a downward revision from last fall, when the board was predicting 2.8 per cent growth for Winnipeg in 2009.
The only two cities the board predicts will outperform Winnipeg this year are Saskatoon and Regina, at 1.7 per cent and 1.6 per cent respectively. And their forecasts have also been revised downward from last fall.
The board predicts the Canadian economy will contract by 0.5 per cent.
"While less heralded than the booming municipalities further west, Winnipeg has been quietly amassing sold growth numbers," it said.
"However, Winnipeg will feel the pinch of the current global economic downturn. GDP growth, employment advances, net migration and housing starts are all expected to soften in 2009," the board said.
"But after expanding by 1.1 per cent this year, economic growth will rebound to three per cent in 2010 and remain above two per cent thereafter." |
