Manitoba’s economy among strongest in country in 2016: Conference Board of Canada
WINNIPEG — The Conference Board of Canada predicts Manitoba’s economy will be among the strongest in Canada in 2016 and be the second strongest in 2017.
The economic think tank forecasts the province’s economy will grow 2.3 per cent in 2016, outstripping national growth of 1.7 per cent.
“Manitoba will be one of the top-performing provinces in the country this year and next. Leading the growth will be agriculture, construction, manufacturing, and the service sector in general,” according to the Conference Board of Canada.
Manitoba’s growth will only be beaten by B.C. and Ontario in 2016.
The province’s construction sector is predicted to fuel the province’s economy over the next two years, as Manitoba continues “with its five-year infrastructure plan and Manitoba projects.” The sector is foretasted to grow by 4.4 per cent this year and nearly 10 per cent in 2017.
Over the next two years, manufacturing will see a growth as well, as strong household consumption in the United States and a weak Canadian dollar are expected to lift exports.
The agriculture sector should see a 5.7 per cent spike in 2016, if there aren’t any unfavourable weather events to disrupt seeding and harvesting. International trade should also help sustain strong demand for Manitoba’s agricultural products.
After seeing the strongest job growth in Canada in 2015, Manitoba’s job market will be more moderate this year. But in 2017, over 11,000 jobs are expected to created.
© 2016 Shaw Media