Windsor to see Moderate Economic Growth in 2019
Windsor is expected to see "moderate" economic growth of 2 per cent in 2019, according to the latest report from the Conference Board of Canada.
The independent research group's Metropolitan Outlook II was released Thursday — projecting 1.4 per cent real GDP growth for Canada's economy in 2019.
"We found many of the metropolitan areas are boasting low unemployment rates," said Alan Arcand in a news release, the lead researcher and associate director with the board's Centre for Municipal Studies. "While this is helping to drive up wage growth, it also raises the issue of labour shortages."
Cities like Windsor, Oshawa and London are likely to see growth of 2 per cent or less this year.
Arcand says the report shows many areas are boasting low unemployment rates.
While this is helping to drive up wage growth, he says it also raises the issue of labour shortages.
The report also highlights trade uncertainty that continues to hamper export-oriented manufacturing industries.
An issue that is expected to persist until the new trade agreement between Canada, the U.S. and Mexico is ratified — the Canada United-States Mexico Agreement.
"Key sectors in many of the report's metro areas are showing only modest growth as a result of trade tensions,” said Arcand.
— with files from CTV Windsor.