Vancouver economy set for fastest growth of any major Canadian city, says Conference Board

The Conference Board of Canada has lofty economic expectations for Vancouver.

In the influencial board’s fall “Metropolitan Outlook,” Vancouver is predicted to have the fastest-growing metropolitan economy in Canada this year.

“Vancouver’s economy is on track to extend its streak of strong growth this year. In fact, 2015 will mark the fifth time in the past six years that growth in the region has topped 3 per cent,” Alan Arcand, associate director, Centre for Municipal Studies, said in a statement.

“The manufacturing sector will lead the way this year, but widespread gains are expected across all sectors of the city’s economy.”

In the conclusion by the board, Vancouver is expected to have the fastest economic growth out of 13 major cities that were reviewed in the forecast.

Vancouver’s manufacturing sector is expected to grow by 8.6 per cent in 2015.

Hit hard by the slump in oil prices, long-standing economic leaders Calgary and Edmonton face recession in 2015.

Vancouver’s economy is forecast to expand by 3.4 per cent in 2015 and rise by a further 3.5 per cent in 2016.

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