Canadian growth to pick up in 2012
OTTAWA ` Most, but not all, provinces should see more economic growth next year than they`ve had this year, and western provinces will continue to be the leaders in economic growth in 2012, according to a report.
The Conference Board of Canada said Friday that the West will benefit from higher commodity prices and related investments in the energy sector. Central and Eastern Canada, on the other hand, are expected to be hampered by things such as provincial government efforts to reduce deficits, a weak U.S. economy and sluggish consumer spending.
`Private-sector activity will pick up in 2012, helping to offset sharp declines in federal and provincial infrastructure spending,` Marie-Christine Bernard, the Conference Board`s associate director of provincial forecasts, said in a statement. `But despite little direct exposure to European markets, provincial economies would be affected if the (European Union) sovereign debt crisis spread globally. As a result, risks to the forecast remain elevated.`
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