Canada's economy grew by 1.3% last year, but many provinces grew by more
Monday, May 08, 2017
Canada's economy expanded by 1.3 per cent in 2016, as strong growth in British Columbia, Ontario, Manitoba and P.E.I. was offset by Alberta and Saskatchewan, whose economies contracted for the second straight year.
Statistics Canada reported Monday that eight provinces and two territories saw their real Gross Domestic Product (or GDP) expand last year. The only exceptions were Alberta, Saskatchewan and the Northwest Territories.
British Columbia led the country for the second straight year as the province's economy grew by 3.7 per cent, up from 3.1 per cent in 2015. Oil and gas and real estate were sources of strength, while engineering and manufacturing declined.
Category: Economic Development