Winnipeg moved up eight spots — from 12th to fourth — in the CIBC World Markets’ latest Canadian Metropolitan Economic Activity Index rankings.
The CIBC’s index noted strengths in the construction and the manufacturing sectors, a very strong rise in housing starts and an increase in non-residential activity that was second only to Saskatoon.
Toronto took top spot for the second year running, followed by Calgary, with Regina only slightly ahead of Winnipeg in third place.
The index measures nine macroeconomic variables and is structured in a way that approximates the change in each city’s level of economic activity. Canada’s 25 largest cities are included in the index.
Winnipeg ranked near the top of the list in both consumer and business bankruptcy rates and was in the top half of all but one of the variables.