Alberta recovery to take longer
Posted Apr 7, 2010 2:27 pm.
This article is more than 5 years old.
Economically, Vancouver is the place to be in 2010 but, come 2011, either Calgary or Edmonton might take over top spot.
The Conference Board of Canada has released its latest metropolitan outlook.
It predicts Vancouver will enjoy economic growth of 4 per cent this year, mostly because it hosted the winter olympics.
However, while there are more signs that the recession is just a memory, the struggles for Alberta’s two biggest cities are not over just yet.
The Conference Board of Canada says Alberta was one of the last provinces to be pounded by the recession and subsquently our recovery is going to take longer.
Economist Greg Sutherland tells 660News, demand for energy products following the financal downturn have not bounced back as quickly as first thought.
Sutherland says Calgary’s economy will grow by 2.8 percent this year, about the same as Edmonton’s.
That’s in line with the nation’s capital, but behind Toronto and Hamilton.
