Ottawa Business Journal - Local

Article

Print
Send to a friend
Comment (0)

Local GDP growth to slow to 1%: Conference Board

(Stock image)

Published on September 18, 2012; Published on September 18, 2012
OBJ Staff

Economic growth in Ottawa-Gatineau will trail all other Canadian metropolitan areas in 2012, according to a new forecast by the Conference Board of Canada.

Topics :: Ottawa , Gatineau , Edmonton

Reduced government spending will cause real GDP growth in Ottawa-Gatineau to slow to one per cent this year, down from 1.5 per cent in 2011.

“Ongoing fiscal restraint by the federal government will keep growth at bay not only this year, but over the next few years as well,” a summary of the report read.

“By the time the federal government’s belt-tightening exercise comes to an end, the public administration’s share of the Ottawa-Gatineau economy will have edged down from 26 per cent in 2011 to 24 per cent in 2016.”

Real GDP growth in Ottawa-Gatineau is forecast to rebound to 1.9 per cent between 2013 and 2016. However, that still places the region last among the 13 metropolitan areas surveyed.

Edmonton is forecast to lead the country in 2012, with an increase of 4.6 per cent.

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.