20°c Partly cloudy
10°c Light rain
Winnipeg Free Press - PRINT EDITION
Forecast for Man. more bullish
Expected growth rate increases
ONE of the country's leading economic forecasters has bumped up its forecast for how well the Manitoba economy will perform over the next two years.
In its Spring 2012 Provincial Outlook Report issued Wednesday, the Conference Board of Canada predicts the Manitoba economy will grow by 2.9 per cent this year and by 2.7 per cent in 2013.
In its last quarterly forecast in February, the Ottawa-based think-tank was predicting real gross domestic product (GDP) growth of 2.7 per cent this year and 2.6 per cent in 2013.
The board also expects Manitoba will tie Saskatchewan for the second-best economic growth in the country this year.
It said the province's goods sector is poised for rapid growth this year, thanks largely to a stellar performance by its primary industries.
Agriculture is also expected to rebound from last year's spring flooding and summer drought, with a robust 10 per cent growth in output this year.
"The outlook for mining is also rosy," it said. "Meanwhile, the province's diverse manufacturing base is expected to stay on track, growing by 2.1 per cent this year and 3.3 per cent in 2013."
New Statistics Canada numbers Wednesday show Manitoba's manufacturing sector hit the pause button in March.
The agency said manufacturers shipped out $1.29 billion worth of goods during the month, essentially unchanged from the previous month.
On a year-over-year comparison, the sector fared a little better, with sales up 3.5 per cent from a year earlier.
Manitoba was one of only three provinces that didn't see their sales increase from February to March.
Nationally, the Conference Board said resource-rich Western Canada will be going from strength to greater strength over the next two years, with Alberta leading the economic charge with 3.8 per cent growth this year and 3.7 per cent in 2013.
The four western provinces will claim the top four growth rates in 2012 and 2013, it said, all bettering or equalling the national average for both years of 2.3 per cent and 2.8 per cent.
The four provinces will also enjoy the lowest levels of unemployment both years, it adds.
The think-tank said it expects Quebec and the Atlantic provinces to underperform in both years, while Ontario will about match the national growth rate
murray.mcneill@freepress.mb.ca
-- with files from The Canadian Press
Republished from the Winnipeg Free Press print edition May 17, 2012 B9
More Business
- Back to Top
- Return to Business
Poll
Most Popular Business
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Value Partners cracks $1-B mark in assets
- New owner for lumber stores
- Changes to CPP rules worth looking into
- Canada threatens 'retaliatory measures' over new US meat labeling regulations
- Even a nine-year-old grills McDonald's CEO over menu
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- Manitoba housing affordability deteriorates
- Wealth survey indicates average person has $6.6K
- Skyline-altering project will happen: developer
- New owner for lumber stores
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Value Partners cracks $1-B mark in assets
- Skyline-altering project will happen: developer
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- Bridging the gap
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- City to get a touch of glass
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Value Partners cracks $1-B mark in assets
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Changes to CPP rules worth looking into
- New owner for lumber stores
- Valeant shares soar amid report drug firm near $9B deal to buy Bausch and Lomb
- Motor Coach laying off 190 workers
- Young entrepreneurs pitch ideas to investor Warren Buffett, win prizes for their businesses
- Wealth survey indicates average person has $6.6K
- She's got entrepreneurial spirit
- TD Bank looking for cost savings amid continued low interest rates
- New owner for lumber stores
- Value Partners cracks $1-B mark in assets
- Ex-'Pegger seeks to grow local businesses
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Bridging the gap
- Developers to unveil plans for bold downtown tower
- Changes to CPP rules worth looking into
- Skyline-altering project will happen: developer
- There are lots of I's in 'team'
- More than a new boss
- New owner for lumber stores
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Value Partners cracks $1-B mark in assets
- Local boy leads Great-West
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.