WINNIPEG – Manitoba’s economy is the most stable in Canada.
That’s according to a report from BMO, which credits our diverse industries led by strong growth in manufacturing and services.
The report also highlights our strong transportation industry and a weak US dollar, both of which are contributing to steady growth in Manitoba.
John MacAulay, BMO’s senior vice-president for the prairies explains how we’ve been able to be so consistent and stable for the last seven years.
“We’ve got agriculture, which is a significant component to our overall Manitoba economy,” says MacAulay. “Oftentimes, that offsets any changes within manufacturing or servicing or with any of our other industry verticals that exist within the province. I think it’s the beauty of the diversity that we’ve got here.”
MacAulay also tells 680 CJOB we can thank smart business owners for keeping Manitoba afloat.
“Standing back and taking a look at the decisions that business owners are making, whether it be a time of boom or perhaps a more challenging time, these are very rational decisions and ones that I think are playing well over the long term for the growth of their businesses,” says MacAulay.
Overall, Manitoba’s economy will grow by 2.4% this year, a slight increase from last year.