Prairie Provinces Leading for Economic Growth: Report

Prairie Provinces Leading for Economic Growth: Report

The Conference Board of Canada says the Prairie counties are likely to be the top economic performers this year, even if the Bank of Canada’s anti-inflation measures suppress the country’s overall economic output.

In a new report looking at factors that will power Canada’s provincial economies between 2022 and 2024, the nonprofit think tank says Saskatchewan will lead the country this year with real growth of 7.6 percent and Alberta a profit of 7.6 percent. 4.9 percent will see .

It says the oil and gas sector will propel the economies of Saskatchewan and Alberta through 2024.

READ MORE: S&P/TSX Composite Edges Slightly Higher as Oil Price Rises

The report also says Newfoundland and Labrador will see stronger economic growth when offline oil production restarts in 2023.

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An aging population could hold back growth for Quebec, the report adds, while a reversal in the trend of remote work will limit profits in Atlantic Canada as some workers leave, particularly in Nova Scotia and New Brunswick.

The report says a rebound in the manufacturing, hospitality and leisure sectors is likely to provide an economic boost in Ontario and British Columbia.

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