Quote:
Originally Posted by trueviking
GDP growth for Canadian Provinces 2013 from Stats Can.

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It's worth noting that with all the revisions of late this is really only indicative of what the 2013 year may end up looking like. That 2.2% had its forecasts revised downward from 2.7% in April of 2013, to 2.5% in December of 2013, and now 2.2% in March and we still don't actually know what the figure is.
Also, along with this report back in March came the news that projections for 2014 were being revised down from 2.3% to 2.0% on the basis of less private and public capital investment and weaker than expected employment numbers.
Investment in CapEx is a leading indicator. It portents productivity for the coming years. If it's declining, so are we. Going from 2.6% in 2012 to 2.2% (if that's where it ultimately lands - I've been hearing a more realistic figure is 2.0%), that's significant. If we do actually see 2.0% next year or even slightly lower based on the same trend of downward revisions as the data crystallizes over time, we would be contracting thousands of jobs at that rate.
Everybody is bullish on 2015 because, hey, why not, but that's entirely dependent upon the US for manufacturing demand so as they go, we go.
We'll see where this all eventually lines up. We have the highest inflation rate in Canada and it's outstripping our growth. If we're not pacing our inflation rate, it isn't going to matter how much we grow. Prices are just going to chew up any growth we see, anyway, and we won't be any better off.
This describes Manitoba in a nutshell...