Economic growth in 2010 in Manitoba

Continuing capital spending and stronger commodity production should allow Manitoba to once again outperform the national average in 2010, according to the most recent RBC Economic report.

RBC is forecasting that real GDP growth in Manitoba will be 3.0 per cent in 2010 before climbing to 4.0 per cent in 2011, which would represent the Manitoba economy's best performance since 2000.

Particularly the export in the USA will promote the growth. "Lingering challenges facing metals and livestock producers, coupled with a softer outlook for crops exports, underpin the lacklustre overall performance expected in 2010," said Peter Hall, Chief Economist, EDC. "With limited upside from the province's main export sectors, export growth will be limited to 1 per cent next year, sustained by the province's niche bus and aerospace sectors, along with higher energy prices."

Employment in the province has maintained a fairly steady but modest upward trend through 2009, rising by 0.2 per cent on average over the first three quarters. The province is one of only three projected to show an overall job gain in 2009.