Canada Economy Expands

The Economy of Canada grows by 2.7 per cent in the third quarter of the year, which is a faster increase than anyone expected.

The energy and mining sectors, following by manufacturing, financial services and retail industry saw stable gains. Business investment expanded as well compared to the April-June period.

The Canadian cities expected to remain the fastest-growing economies in the coming year are the prairie cities such as Edmonton, Calgary, Saskatoon and Regina.

The economic growth in Alberta is the strongest in the country for 2014. Edmonton, the capital of Alberta, will keep on the good trends thanks to the boom in the construction and energy sectors in the city.

Calgary is the other Canadian city to boost as its gross domestic product is forecast to reach 4% till the end of 2014, again due to the construction, manufacturing and utility sectors.

The economic growth in Regina and Saskatoon attracts a lot of newcomers to both cities. They will keep on the fast pace economic expansion in 2015 though the forecasts are for a more moderate increase.

It’s expected that the total number of vacancies in Vancouver this year will reach 30,000, which will boost personal income growth as a whole. Vancouver’s Gross Domestic Product growth is expected to reach 3 per cent in 2015.

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