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Winnipeg Free Press - ONLINE EDITION
City's economy to grow 10% over five years: Conference Board
WINNIPEG — Winnipeg’s economy is on the rebound and will grow by more two per cent per year for each of the next five years, according to a new forecast from the Conference Board of Canada.
In its Autumn 2012 Metropolitan Outlook report released today, the Ottawa-based think-tank predicts the Winnipeg economy will bounce back from last year’s tepid 1.3 per cent real gross domestic product (GDP) growth and expand by two per cent this year and by 2.2 per cent in 2013.
And that will be followed by annual growth of 2.7 per cent, 2.6 per cent and 2.3 per cent in each of the three years after that, the board adds.
It says this year’s comeback will be led by a stronger performance from the city’s manufacturing industry and healthy gains on the housing front.
"However, overall economic growth is being hampered by fiscal restraint, which is reducing public administration and defence output," it says.
murray.mcneill@freepress.mb.ca
History
Updated on Tuesday, September 18, 2012 at 12:52 PM CDT: corrects headline
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