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RBC forecasts strong growth rate for Manitoba
(CP)
The Royal Bank of Canada continues to be bullish about Manitoba.
In the latest RBC Economics Provincial Outlook report, the bank is forecasting this province to have the fourth-strongest growth rate in the country with a 2.7 per cent boost in the GDP in 2013. That matches 2012’s rate which was second-highest among the provinces.
The bank says that increased capital spending, strengthening U.S. demand for Manitoba’s manufacturing and utilities exports, as well as improved strength in the construction sector will contribute to the province "holding the steady, solid course that it has been treading since early 2012."
Following a banner year for agriculture that saw output increase and prices swell due to a drought south of the border, RBC expects the province’s agricultural output to grow less rapidly in 2013.
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