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A downturn in the energy sector will shrink Edmonton`s economy in 2009, said a forecast from the Conference Board of Canada.
Real gross domestic growth is forecast to contract in Edmonton by 0.2 per cent, said the not-for-profit economic think-tank in its Metropolitan Outlook, Spring 2009 report released Tuesday.
"Edmonton`s economy has weakened significantly as oil prices have fallen," said the report.
GDP growth already slowed in 2008 to 1.5 per cent, a big drop from the five-per-cent average over the previous four years. For 2009, the report predicted the contraction will take a toll on jobs, housing starts and in-migration.
Read the full article here.
Real gross domestic growth is forecast to contract in Edmonton by 0.2 per cent, said the not-for-profit economic think-tank in its Metropolitan Outlook, Spring 2009 report released Tuesday.
"Edmonton`s economy has weakened significantly as oil prices have fallen," said the report.
GDP growth already slowed in 2008 to 1.5 per cent, a big drop from the five-per-cent average over the previous four years. For 2009, the report predicted the contraction will take a toll on jobs, housing starts and in-migration.
Read the full article here.