February 22, 2011
The Conference Board of Canada is predicting that Calgary will soon regain its place as one of this country’s fastest growing ‘census metropolitan areas.’
As the Conference Board report sees it:
“The continued recovery in the energy sector will boost economic growth by 3.7 per cent in 2011 and above four per cent the following year, placing Calgary at the top of the growth leader board in 2012.”
Good news for Calgarians, sure, but it comes as part of an otherwise subdued outlook for Canada as a whole. From sea to sea to sea, Calgary is joined only by Windsor, Oshawa, Regina, Saskatoon, London, Sherbrooke, Winnipeg and Thunder Bay among metropolitan areas that can expect higher GDP growth this year than last. Windsor, it is predicted, will be the fastest growing region in 2011, with a GDP growth rate of 3.9 per cent.
Mario Lefebvre, Director of the Centre for Municipal Studies cites a trio of factors that will hamper regional GDPs:
“Most Canadian cities rebounded well from the recession. This year, however, a weaker domestic economy, winding down of federal and provincial government stimulus measures, and uncertain economic conditions in the United States will result in stable or lower growth in a majority of cities.”
The Conference Board of Canada is a leading not-for-profit research organization that specializes in economic trends.