Central Canada’s growth will slow considerably in 2011: Scotiabank
Source: The Canadian Press
An economic outlook from Bank of Nova Scotia (TSX:BNS) says Ontario will see considerably slower economic growth in 2011, underperforming resource-rich areas of the country.
Ontario’s economic growth is expected to ease back to 2% next year -- down from about 3.5% this year.
Quebec’s growth rate will be slightly lower than Ontario’s next year at an estimated 1.9%.
Alberta will lead the country with growth of 3.5% followed by Saskatchewan at 3.3%.
Canada’s easternmost province is expected to be near the top of the pack due to the strength of iron ore and nickel.
Newfoundland and Labrador is expected to see growth of 3.1% this year and next, ahead of Nova Scotia and P.E.I and 1.9% and New Brunswick at 2%.