Canadian Economic Improvement Regional


    A regional breakdown of economic performance suggests Canada’s two economies drifted even further apart in 2013. Statistics Canada says that economic output improvement last year was heavily slanted toward resource-rich regions. The gap between the west and the rest was even more pronounced widening to almost two full percentage points, says Robert Kavcic, an economist at Bank of Montreal. Saskatchewan posted a 4.8 per cent surge in gross domestic product in 2013 and Alberta 3.9 per cent while central Canada continued to struggle with Ontario and Quebec seeing 1.2 and 1.1 per cent growth rates. Kavcic believes the gap will begin to close as a weaker loonie and stronger U.S. demand lead to more demand for manufactured exports from Ontario and Quebec.