Manitoba economic leader in 2015 and 2016Click image to enlargeManitoba will be one of the leading provincial economies in both 2015 and 2016, according to The Conference Board of Canada's Provincial Outlook-Winter 2015.

Manitoba's real gross domestic product is forecast to increase by 2.9 per cent in 2015. In 2016, the economy is expected to grow by a nation-leading 3 per cent.

"Manitoba's near-term economic outlook is a good news story. The positive outlook is mainly due to a boom in the construction industry, and the manufacturing sector will also benefit from the strong U.S. economy and retreat in the Canadian dollar," says Marie-Christine Bernard, associate director, Provincial Forecast.

Highlights

  • The construction industry is forecast to grow by almost 10 per cent annually over the next two years.The manufacturing sector will benefit from the strengthening U.S. economy and the lower Canadian dollar, which, in turn, will support growth in the transportation and warehousing industries.
  • In 2016, the Manitoba economy is expected to grow by a nation-leading 3 per cent.

Thanks to fairly strong population growth, demand for housing is rising and employment in Manitoba is expected to grow by 2 per cent. Retail sales are expected to grow by 3.6 per cent.

The construction industry is forecast to gain 8.5 per cent in 2015 and 10.7 per cent in 2016, due to a host of public infrastructure construction projects, as well as new investment within the private sector. The Bipole III Transmission Reliability Project is expected to break ground in 2015.

Transportation and warehousing are expected to keep making strong gains of 3.4 per cent in 2015 and 3.9 per cent in 2015. The improving U.S. economy, the drop in the Canadian dollar and lower oil prices will contribute to boosting manufacturing-based exports. Following a difficult year in 2014, the agriculture sector is expected to rebound in 2015.

The stronger economic growth will enable the province to balance its books in 2016-17 if it can meet its spending targets presented in Budget 2014, according to a new Fiscal Snapshot for the province published by the Conference Board. Despite recording deficits since the 2008-09 recession, net debt on a per capita basis remains below the national average. Manitoba is expected to see solid revenue growth over the medium term, which will include less reliance on equalization payments from the federal government.

More details about the Conference Board of Canada Provinical Outlook Winter 2015 Report.

Manufacturing group forms Jim Flaherty bursary

Canadian Manufacturers and Exporters (CME) has unveiled the Jim Flaherty bursary for students enrolled in manufacturing programs at the University of Ontario Institute of Technology (UOIT)

KUKA's school of robotics

KUKA Canada is once again offering its KUKA Canada College in 2017. Courses will be offered in January, February and March.

Conestoga College gets funding for skilled trades

Conestoga College, based in Kitchener, ON, will implement and lead a welding pre-apprenticeship training program that will be delivered across the country.

Hexagon acquires Vero CAM software business

Hexagon AB has acquired CAM software producer Vero Software.

SW North American opens new NA manufacturing faclity

SW North America, a wholly owned subsidiary of Schwäbische Werkzeugmaschinen GmbH, headquartered in Schramberg-Waldmössingen, Germany, celebrated the opening of its new 40,000 square foot, $12 million manufacturing facility in New Hudson, MI, in November.

Cavalier acquires Mold Services Intl.

Windsor-based mould maker Cavalier Tool and Manufacturing Ltd. has acquired Mold Services Intl. (MSI), which makes single material plastic injection molds and SMC compression molds in a facility in Oldcastle, Ont., just outside of Windsor.

Toyoda tackling EV battery challenges

Toyota Motor Corp. is tackling outstanding issues with its all solid-state battery for electric vehicles as it races to commercialize what many are calling breakthrough technology for EVs.

DMG Mori's AGV-based factory boost production 30%

DMG MORI has revolutionized the production of its monoBLOCK five-axis machining centres with a new 4,000 square-metre (43055.64 square-foot) Excellence Factory at DECKEL MAHO Pfronten.

Index hires Matt Voyles as service manager

Matt Voyles has been hired as the new service manager for Index in the U.S. and Canada.

The six top material breakthroughs of 2017

Ink from car exhaust, 3D graphene and a brand new blue are among the top material breakthroughs of 2017, according to a story from CO.DESIGN. 

Federal government invests $22 M in research for cleantech, advanced manufacturing

The Federal government is investing close to $22 million for four research networks that encourage industrial partnerships between scientists and business leaders to tackle pollution and explore enhanced manufacturing technologies.

Haimer hires marketing support for Canada, US, Mexico

Desiré Karp has joined Haimer USA as marketing coordinator. She will be the lead organizer of trade shows, trainings, and events and support marketing efforts in Canada, the USA, and Mexico. She has more than 17 years of experience in trade shows and event marketing, 12 of which were specific to the metalworking sector

Saskatchewan native Al Hunter was foundry industry pioneer

William Allen, president of Hunter Automated, Schaumberg, IL, and a pioneer in the machine foundry industry, has died.

Manufacturing leads economic growth: StatsCan

Statistics Canada figures show the economy grew 0.2 per cent in July, led by the manufacturing sector.

Stay In Touch

twitter facebook linkedIn