Canadian GDP projections up as U.S. recovers – Winnipeg Free Press

An anticipated financial recovery south of the border is likely to help economic growth in Canada, economists said Wednesday, although the U.S. is likely to outpace its neighbour for the first time in years.

RBC Economics raised its estimate for Canada’s 2013 economic growth to 1.9 per cent, from 1.8 per cent in March, citing an improving picture on trade and strong corporate balance sheets.

The bank maintained its projection for 2014 growth at 2.9 per cent.

Provincially, the bank predicts Manitoba will see real-GDP growth of 2.7 per cent this year and 2.6 per cent in 2014. This year’s growth projection is unchanged from the previous forecast, and is on par with last year’s estimated growth rate.

The bank said Manitoba’s growth last year was mainly driven by a recovery in agricultural production and a double-digit gain in the mining sector. In 2013, those sectors will continue to grow, but at a slower pace — four per cent for agriculture and six per cent for mining, versus 15 per cent and about 12 per cent in 2012, it said.

via Canadian GDP projections up as U.S. recovers – Winnipeg Free Press.

0 Comments

You can be the first one to leave a comment.

Leave a Comment