Manitoba is Canada’s economic “sweet spot”
January 2, 2009
By Canadian Consulting Engineer
The Canada West Foundation says Manitoba is in a good position to weather these economically turbulent times a...
The Canada West Foundation says Manitoba is in a good position to weather these economically turbulent times and it will grow faster than other provinces. The foundation forecasts that Manitoba’s real gross GDP growth will be 2.0% for 2009.
In releasing its report entitled Well-Balanced: Manitoba Economic Profile and Forecast, the foundation’s senior economist, Jacques Marcil, said: “It is striking how Manitoba is currently sitting in an economic sweet spot where prosperity comes from different sources, none of which dominates enough to upset the economic apple cart too much.”
He added, “Manitoba’s steady-as-she-goes growth will be spread among different areas of the economy, giving the province a degree of balance that will be the envy of other jurisdictions.”
Among the report’s key findings were that non-residential construction activity was high, thanks to large projects in hydro power, public works and mining. the transportation equipment manufacturing sector was “in high gear,” and crop production was due to set a record.
Also, the province’s population is growing thanks to the migration of workers from Ontario and Alberta, and international migration.