Manitoba has one of the fastest growing economies in the country this year and should continue to enjoy healthy, albeit more moderate, growth in 2013 and 2014, according to the latest forecast from the Conference Board of Canada.
"Manitoba’s economy is back on track," the Ottawa-based think tank said in its Autumn 2012 Provincial Outlook report released today.
"Widespread gains across different industries and a strong performance by the agriculture sector (up 27 per cent) have put Manitoba’s economy on pace for 2.5 per cent growth in 2012."
The board said only Alberta and Saskatchewan are expected to see stronger growth this year, at 3.4 per cent and 3.0 per cent respectively, while the Canadian economy is expected to grow by only 1.8 per cent.
The board predicted Manitoba’s real gross domestic product (GDP) growth will moderate somewhat over next two years, but still hit a healthy 2.1 per cent in 2013 and 2.3 per cent in 2014.
That will leave it in the middle of the provincial pack in terms of economic growth for those two years, it added.