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The economic recession in Canada in 2019, but some provinces will go better than others



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Reduction of the & # 39; in oil production and a modest investment will slow down economic growth in Alberta. Photo: Reuters / Chris Helgren

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The climate is far from an asset

If the Canadian economy downward trend since February, it is because of the frost, he too is ambiguous.

After January is quite positive, with strong growth, gross domestic product fell by one-tenth, frozen from the cold in the past month across the country.

These cold affected the activities of a number of national companies, including VIA Rail experienced a decline in safety activities 11%In addition to the collapse of British Columbia, who came to give him an unexpected decline.

The mining sector also felt the effects of adverse weather weather & # 39; I, which led to a decrease in exports of some metals.

In such circumstances, in 2019 there will be 2018 pictures in Canada, because economic growth will be a recession, at a rate of From 1.2 to 1.9%.

Canadian provinces will feel mixed fortunes

According to the Conference Board of Canada, the economic outlook for 2019 and 2020 will be very varied across the country.

The slowdown in economic growth will mainly affect the central Canada, Manitoba and Alberta.

In some provinces, like the Atlantic provinces, British Columbia and Saskatchewan show a fairly stable symptoms.

Growth in global demand for commodities such as potash, oil and agricultural products, will allow recovery of international trade in Saskatchewan, which will see its economic recovery growth 2,2% this year.

According to the 2019 Winter monthly report from the Conference Board, Quebec, Ontario, Manitoba and Alberta will experience lower economic growth.

Surprises Ontario derives from the fact that the province is experiencing stronger employment growth, while the overall economic growth will increase from 2.4% in 2018 year to 2.1% this year.

As for Quebec's economic growth will slide below the bar 2%, Passing 1.8%, With many meetings and increase the number of vacancies.

As in Manitoba, this growth is expected to fall 1,6% in 2019, but declined to 1% in 2020. In this province, the closure of several mines will weigh a significant weight on the decline.

It will be about the same situation in the province of Alberta, where the decline of the & # 39; in oil production and a modest investment in the energy sector will ensure that the growth accounted for 1.3% This year, in spite of the employment is expected to trend upwards.

Prince Edward Island will be allocated to the provinces, where the growth will be the strongest in the country, at the expected rate 3,2% in 2019 the inflow of international migrants will be something there, given its impact on housing construction and consumer products, which stimulate exports and production.

«The Conference Board of Canada predicts an increase in Canada's GDP by 1.9% in 2019 In general, the prospects are mixed, with slowing growth in many regions of Canada, including Quebec, Ontario, Manitoba and Alberta, and it should be the same in 2020, by contrast, Atlantic Canada, Saskatchewan and British Columbia will record higher growth rate this year, despite the slowdown in consumption and government spending, "said Marie-Christine Bernard, director of the provincial forecast in a press release.

WIth CBC (chronic Andrée-Anne St-Arnaud) and inforamtions Council of Canada Conference

See also:

The Canadian economy will slow

The Canadian economy began 2019 with signs of weakness

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