Hamilton’s economy to grow dramatically in 2014, Conference Board says
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Hamilton's economy is forecast to grow by 2.5 per cent this year, a big improvement over the near stand-still performance of 2013, the Conference Board of Canada says in a report released Monday.
The opening of Maple Leaf's new processing plant will help lift manufacturing output and, in turn, support a turnaround in transportation and warehousing this year, the board said in its once-a-year analysis of 28 Canadian metropolitan areas.
Last year's lacklustre growth of only 0.7 per cent in Hamilton was due to slowing of the city's traditional manufacturing – a sector expected to power ahead in 2014.
The outlook for construction in Hamilton is not as optimistic. The report says lower housing starts and the completion of some non-residential projects will keep that sector weak.