3.9% Growth Rate in Alberta boosts Ecomony
OTTAWA — A regional breakdown of economic performance suggests Canada’s two economies drifted even further apart in 2013.
Ontario’s government is facing growing calls to get its fiscal house in order, with a Fraser Institute study pegging the province as an economic ball and chain “dragging down the country as a whole.”
Statistics Canada says in a new report issued Tuesday that improvement in economic output last year was heavily slanted toward resource-rich regions. The gap between the West and the rest was even more pronounced, said Bank of Montreal economist Robert Kavcic, widening to almost two full percentage points.
Saskatchewan, which also benefited from a bump in the agriculture sector, posted a 4.8% surge in gross domestic product in 2013, while oil-rich Alberta realized a 3.9% growth rate.
Newfoundland and Labrador, which also has a resource-based economy, actually led the country in GDP improvement with a booming 7.9% acceleration, but that was somewhat misleading because it came in the wake of a 4.2% slump in 2012.
Click link for full article. Article courtesy of Financial Post
http://business.financialpost.com/2014/04/30/western-growth-pulls-away-further-from-rest-of-canadas/
