Gap between resource-rich provinces, rest of Canada narrowing
Laurentian Bank still expecting real GDP to grow just 1.5 per cent in 2013, 2.2 per cent in 2014
MONTREAL—A new report from Laurentian Bank of Canada says the economic gap between resource-rich provinces and the rest of Canada is narrowing.
The Provincial Monitor report, issued by the bank’s economic research department, says a combination of poor weather conditions and growing pipeline capacity uncertainty in the prairies are the main contributors.
As a result, Laurentian says the outlook for Alberta and Saskatchewan has been downgraded for 2013, while the one for Quebec and some of the Atlantic Provinces have been revised slightly upward.
From a national perspective, Laurentian is still expecting real GDP to grow just 1.5 per cent in 2013 and 2.2 per cent in 2014.