Comment 80988

By Paper Cranes (anonymous) | Posted September 18, 2012 at 21:15:21

"The Hamilton-Burlington economy will be the fastest growing in 2012 among Ontario cities tracked in a new Conference Board of Canada report.

The region is expected to churn out steady growth of 2.5 per cent this year, thanks to increases in the manufacturing and construction sectors, and will match that on average over the next four years, according to the Ottawa-based research centre.

And that 2.5 per cent figure is the actual gross domestic product growth recorded in the local economy in 2011.

Hamilton ranks fifth in projected 2012 economic growth among 13 cities tracked in the Metropolitan Outlook report. The top four cities are Edmonton, Calgary, Regina and Vancouver. Toronto comes in at sixth with 2.3 per cent growth and Ottawa-Gatineau, the only other Ontario city tracked, comes in last at 1 per cent.

The manufacturing and construction sectors will lead the way in growth for the *Hamilton-Burlington census metropolitan area, which also includes Grimsby....

Total construction growth is expected to come in at 3.8 per cent this year and then slow to 1.8 per cent in 2013.

After falling 31 per cent in 2011, the board predicts total housing starts will surge by 39 per cent this year thanks to steady economic and population growth and continued affordability. The board expects to see starts rise an average of 7.7 per cent from 2014 to 2016."

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