The economy in Toronto stands to be in the first position as it is set to expand this year by 2.7 per cent, and there are three other cities competing for the second position. The Conference Board of Canada is predicting an increase of 2.4 per cent in Edmonton and Calgary going up by 2.3 per cent. Vancouver happens to be showing good signs of bagging the second place with a growth of 2.4 per cent.
Associate Director of the Conference Board of Canada’s Center for Municipal Studies, Alan Arcand said; “Although economic growth is forecast to ease in 2017, Toronto will still be the metropolitan growth leader in Canada this year. Vancouver will see economic activity moderate this year, but it will maintain its place near the top of the growth rankings. Meanwhile, the tide is finally turning for Calgary, Edmonton, Regina, and Saskatoon, with all four metro areas emerging from recession this year.”
If there is a likely growth in Toronto’s economic, there is a chance the housing market may cool down as the Conference Board mentioned in their current Metropolitan Outlook, with subsequent measures being put in place by the provincial government to cool down the fast increasing prices of the houses.
Ottawa-Gatineau is expected to grow by 2.3 per cent, Winnipeg by 2.2 per cent, Victoria up by 2.1 per cent, Hamilton increased by 2.0 per cent, Quebec up by 1.9 per cent, 1.8 per cent for Halifax, Saskatoon up by 1.6 per cent and Regina with the lowest of 1.5 per cent.