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BMO joins chorus of bright forecasts for Manitoba
The Bank of Montreal forecasts a strong economy for Manitoba this year. (DARRYL DYCK / THE CANADIAN PRESS ARCHIVES)
WINNIPEG — The Bank of Montreal is the latest forecaster to predict Manitoba will be one of the country’s leading economic performers in 2012.
In its latest Provincial Monitor report released today, BMO Capital markets predicts the Manitoba economy will post the third strongest real gross domestic product (GDP) growth this year, at 2.6 per cent.
The only two provinces it thinks will do better are Alberta and Saskatchewan, at a projected 3.4 per cent and 2.9 per cent respectively.
The Conference Board of Canada and Royal Bank have also forecast a top-three performance this year for Manitoba. The Conference Board has predicted 2.7 per cent growth (second best in the country), while the Royal has forecast 3.4 per cent growth (third best).
BMO said Manitoba’s economy should easily outperform the Canadian economy this year, which it predicts will grow by 2.0 per cent.
The bank is also forecasting another strong performance for Manitoba in 2013, with growth of 2.5 per cent. However, it predicts that will good for only fifth place among the provinces, with Newfoundland and Labrador (3.5 per cent), Alberta (3.3), Saskatchewan (3.1) and British Columbia (2.7) all expected to do better.
It said the Canadian economy is also expected to grow by 2.5 per cent in 2013.
murray.mcneill@freepress.mb.ca
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