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Manitoba's economic growth second only to Alberta

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Manitoba had one of the two best-performing provincial economies in the country in 2012, with 2.7 per cent growth, according to preliminary year-end numbers released today by Statistics Canada.

The agency said Alberta was the only province to turn in stronger real gross domestic product (GDP) growth last year, with 3.9 per cent.

Saskatchewan rounded out the all-Prairie top three, with growth of 2.2 per cent. Five of the other provinces came in at less than two per cent, while Newfoundland and Labrador and New Brunswick saw their GDP decline by 4.8 per cent and 0.6 per cent respectively.

Among the territories, Nunavut posted the strongest growth at 4.3 per cent, followed by Yukon at 3.4 per cent and Northwest Territories at 1.9 per cent.

The Canadian economy finished the year with growth of 1.8 per cent, the agency added.

It said the goods sector was the big contributor to Manitoba’s strong performance in 2012. Goods production was up 5.2 per cent, led by a rebound in crop production, significantly higher oil and gas extraction, and a 6.6 per cent increase in construction output.

Service sector output grew by a more modest 1.7 per cent.

Statistics Canada said the final provincial and territorial GDP numbers will be released in November.

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