Prairie provinces leading on economic growth, new report says
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OTTAWA — The Convention Board of Canada says the Prairie provinces will seemingly be the highest financial performers this 12 months, even because the Financial institution of Canada’s inflation-fighting measures quell the nation’s general financial output.
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In a brand new report components that may drive Canada’s provincial economies between 2022 and 2024, the not-for-profit assume tank says Saskatchewan will lead the nation with actual progress of seven.6 per cent this 12 months and Alberta will see a 4.9 per cent acquire.
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It says the oil and gasoline sector will propel the Saskatchewan and Alberta economies by way of 2024.
The report additionally says Newfoundland and Labrador will see stronger financial progress when offline oil manufacturing restarts in 2023.
An growing old inhabitants might maintain again progress for Quebec, the report provides, whereas a reversal within the distant work pattern will restrict positive aspects in Atlantic Canada as some staff transfer away, significantly in Nova Scotia and New Brunswick.
The report says a pickup within the manufacturing, hospitality and recreation sectors will seemingly present an financial increase in Ontario and British Columbia.
