The Conference Board of Canada’s initial fall numbers show slow growth for Manitoba’s economy.
According to the board, there are a number of contributing factors to the weak outlook.
One of the big factors is the number of large-scale construction projects are wrapping up in the province, meaning lots of the spending for those projects has already occurred. There were also weak wage gains, and lacking job growth.
In August, the Conference Board predicted that Manitoba’s economic GDP would grow .5 percent this year and .8 percent in 2020.
Despite the weak numbers, Premier Brian Pallister remains optimistic.
“The province is excited about getting our act together here in Manitoba on focused economic development. We have been achieving some really good results,” said Pallister. “Part of this has been on the eliminating of barriers of trade and encouraging better shopping but part of this is on attracting more capital.”
The Premier said he plans on bringing 40,000 new jobs to the province by the end of his term.
The Conference Board of Canada says the sad outlook for the province should turn around.
