Edmonton is on track to out-perform all other major Canadian cities in terms of economic performance, according to the Conference Board of Canada.
Figures from the board’s fall outlook show the city is expected to post the highest GDP growth in Canada at 5.2 per cent for 2001, an increase from the 4.8 per cent forecast last spring.
The Conference Board notes that its forecasts, prepared prior to Sept. 11, do not take into account impact from the U.S. terrorist attacks.
But the numbers still boosted spirits with Edmonton’s economic development authorities.
“These numbers mean Edmonton will have achieved growth in excess of three per cent in four of the last five years — our greatest period of sustained economic growth since 1988,” said Jim Edwards, president and CEO of Economic Development Edmonton.
Edmonton leads Canada in the growth of employment (4 per cent), retail sales (10.4 per cent) and personal disposable income per capita (8.3 per cent). Louis Theriault, associate director with the Conference Board’s Metropolitan Outlook Service, said that while there may be economic fallout from the events of Sept. 11, Edmonton’s No. 1 growth position is unlikely to change relative to other communities, particularly those in eastern Canada.
Meanwhile, the Alberta Economic Development has released a report showing Alberta’s economy grew by 6.1 per cent last year, with international exports of goods and services increasing by more than 55 per cent, and exports of manufactured goods and services rising by more than 30 per cent.
