[Only The Lonely..]

Manitoba and Saskatchewan Economic Leaders

John Copsey reporting | CJOB 680 AM Winnipeg
8/6/2008

Manitoba and Saskatchewan will lead the country in economic growth this year, according to the Conference Board's Provincial Outlook for 2008.

Glen Hodgson, Senior VP and Chief Economist with the Conference Board, told CJOB this is the first time both provinces have jointly led the rest of the country in economic performance.

Hodgson credits Manitoba's booming growth and projected GDP growth of 3.6 per cent to a number of diverse factors.

Saskatchewan's GDP is forecast to expand to 4.2 per cent, largely on the strength of its natural resource commodities.

[ReginaGuy]

I bet no one would have seen that coming 10 years ago

[Only The Lonely..]

I bet no one would have seen that coming 10 years ago

Nor a Bomber / Roughriders Grey Cup, but stranger things have happened.

[Greco Roman]

Damn straight this is happening!

[Calgarian]

What is driving the economy in Manitoba?

[feepa]

Oil-Rich Saskatoon and Dynamic Winnipeg! Go Go Go

[1ajs]

mining, hydro, manufactuing, farming, finacial planing (GWL Investers group and various other companies)

[Calgarian]

Any possibility of some shiny new office towers in the Peg?

[Andy6]

Any possibility of some shiny new office towers in the Peg?

Highly unlikely. It's not an office tower economy.

[1ajs]

indeed andy but we will be seeing the continued refurbishment of our older stock that makes this city what it is :)

http://farm4.static.flickr.com/3052/2669882519_ef6ee4886f.jpg?v=0

http://farm4.static.flickr.com/3005/2588608130_3b86a61117.jpg?v=0

http://farm4.static.flickr.com/3134/2587869333_a2966a7381.jpg?v=0

[Greco Roman]

Highly unlikely. It's not an office tower economy.

Not yet, but you can't say forsure what the future holds, and the future is looking better these days, despite the fact that some trolls (not you) may be tempted to comment on here.

[Greco Roman]

Oil-Rich Saskatoon and Dynamic Winnipeg! Go Go Go

I thought Calgary was supposed to be the dynamic city? :rolleyes:

[Calgarian]

I thought Calgary was supposed to be the dynamic city? :rolleyes:

Dude seriously, get over your Calgary complex, it really is pathetic.

[Calgarian]

Highly unlikely. It's not an office tower economy.

But winnipeg has office towers, why wouldn't the current boom reflect that? What is your vacancy rate like?

[Crazy4Calgary]

I thought Calgary was supposed to be the dynamic city? :rolleyes:

Don't really understand why a thread about Sask/Man has to turn into a Calgary bash session...:koko:

But anyways...If you read the fine print...Sask & Man lead the country in Economic GROWTH...Doesn't mean they have the STRONGEST economy in the country though.

[ReginaGuy]

Are you new to SSP? Every thread has the potential of turning into an attack on Calgary!

And just as a little correction to feepa, Regina enjoys most of Saskatchewan's oil riches, Saskatoon gets the uranium and potash. There are three cities in this boom you know ;)

[240glt]

Still waiting for my 320 acres outside Nipawin to be worth more than a two-four of Pil.

[Calgarian]

Are you new to SSP? Every thread has the potential of turning into an attack on Calgary!

And just as a little correction to feepa, Regina enjoys most of Saskatchewan's oil riches, Saskatoon gets the uranium and potash. There are three cities in this boom you know ;)

I wonder if Regina benifits more than Calgary off Saskatchewans oil boom.

Anyway, are house prices still going through the roof in Sask? how about Manitoba?

[Calgarian]

Still waiting for my 320 acres outside Nipawin to be worth more than a two-four of Pil.

Pil isn't the best beer, I much prefer Bo.

[good_dude]

This one says more about Manitoba's economy...

Manitoba economy on a roll
Expected to see second-fastest growth in 2008

Martin Cash

Updated: August 7 at 09:09 AM CDT

Print Article E-mail Article On the same day that two of Winnipeg's largest manufacturers posted significant increases in sales, the Conference Board of Canada, in its latest provincial outlook, touted Manitoba's economy as the second strongest for 2008.

It is forecasting 3.6 per cent growth in Manitoba in 2008 and 1.7 per cent for Canada. It says the national economy will be dragged down by weakness in demand from the U.S. for the southern Ontario and Quebec auto industries.


Enlarge Image

Thanks to its new Russian owners, Buhler Industries is selling more tractors in Russia and eastern Europe. (Photo Courtesy Buhler Industries )
The Ottawa think -tank really couldn't ask for better examples to illustrate some of the underlying strengths in the Manitoba economy than Buhler Industries (the only Canadian tractor maker left in the country) reporting a 54 per cent increase in sales and New Flyer Industries (the largest bus company in North America) up more than 13 per cent for the quarter compared to the year before.

As if to further show it knows what it's talking about when it says the province's resilient manufacturing sector is led by strong orders in buses and aircraft parts, Standard Aero has scheduled a groundbreaking ceremony for its new 80,000-square-foot turbine engine overhaul facility expansion for today.

Sabrina Browarski, an economist with the Conference Board, said, "The Manitoba economy has side-swiped the U.S. slowdown."

That is clearly a nifty feat to accomplish and one that is not easily duplicated.

A certain amount of serendipity is certainly required. A spike in natural resource prices like base metals (Manitoba is a large producer of nickel, zinc and copper) has been driven by the industrial growth in China, India, Russia and Brazil. That growth came about partly by the global economy seeking lower cost production (which usually means lower-cost labour) which has then led to increased quality of life for those very same labourers, which led to demand for higher quality diets, which has driven up the price of agricultural commodities.

Manitoba is also a large producer of agricultural commodities.

So Manitoba's economy has been able to benefit from those dynamics. They are the same ones that have helped Buhler Industries sell a lot more tractors (and with the help of its new Russian owners, a lot more in Russia and eastern Europe). The increasing demand for air travel by the burgeoning middle class around the world has increased the demand for the servicing of aircraft engines, which has meant an increase in demand for the specialized services in which Standard Aero has now become a world leader.

But after the New Flyers and the the Standard Aeros and the large financial services companies and communication corporations like Canwest and MTS, the Manitoba economy is dominated by small and medium-sized enterprises.

It is much harder for such entities to survive when their largest export market is approaching a recession and the domestic currency has increased by more than 50 per cent.

Ron Koslowsky, the Manitoba vice-president of Canadian Manufacturers and Exporters, does not have the temerity to say his provincial manufactures have dodged any bullet yet. If you ask him, his members still have their sleeves rolled way up and are busy with their shoulders to the wheel.

"In the past, you would hear people say there's no way they could survive an 80 or 85-cent dollar," he said.

The dollar soared past that ages ago now, it seems, and that grim prospect encouraged many Manitoba companies to buy into the CME's advanced manufacturing or lean manufacturing initiative. Manitoba's metal bashers, parts makers, food processors and equipment makers became much more productive and, over time, more selective when it comes to product mix, dropping items they were no longer competitive in.

"It has allowed a lot of companies to stay in the game and remain competitive, but it has also squeezed the profit picture," he said.

Now, Koslowsky's group is encouraging its members to focus on expanding their trade horizons and use technology and innovation.

The only other province that is expected to grow faster than Manitoba this year is Saskatchewan at 4.2 per cent.

The advantage there is a much more substantial oil patch, a global dominance in potash and a substantial share of the world's uranium supplies.

martin.cash@freepress.mb.ca

[240glt]

Pil isn't the best beer, I much prefer Bo.

Heh, Never heard of Bo. That's probably a good thing.

[Calgarian]

Heh, Never heard of Bo. That's probably a good thing.


Bohemian, it's a type of beer in Saskatchewan. Any time one of my Sask. friends go home they always bring back a few cases. Good beer :cheers:

[240glt]

I'll keep that in mind.

I'm always open to broadening my beer horizons!

[circle33]

Anyway, are house prices still going through the roof in Sask?

No.

Pretty much everything you ever wanted to know on that subject can be found here (http://www.teamfisher.com/blogs/norm_fisher/default.aspx)

[ReginaGuy]

I wonder if Regina benifits more than Calgary off Saskatchewans oil boom.

Anyway, are house prices still going through the roof in Sask? how about Manitoba?

I doubt it. Regina has the multi-billion dollar refinery and some exploration companies, but Calgary wins by a landslide with all of those Oil company HQ's

[WhipperSnapper]

amazing how some growth after years of stagnation skews the stats. Explains why comparisons between growth rates are so futile and yet, the media continually laps it up. Economic Leaders? Only in a deluted mind

[Architype]

Then things will change again in 2009, maybe.


CONFERENCE BOARD OF CANADA'S FORECASTS FOR ECONOMIC GROWTH

2008 / 2009
Canada 1.7% 2.7%
Sask. 4.2% 2.8%
Man. 3.6% 2.7%
Alta. 2.6% 3.3%
P.E.I. 2.2% 1.9%
B.C. 2.2% 2.9%
N.S. 2.0% 1.6%
N.B. 2.0% 1.4%
Que. 1.4% 2.3%
Ont. 0.8% 2.8%
N.L. 0.2% 4.2%

http://www.canada.com/vancouversun/news/business/story.html?id=0d46ea84-08f2-48d4-a8b1-247e2a9e3ad9&p=2

[Me&You]

amazing how some growth after years of stagnation skews the stats. Explains why comparisons between growth rates are so futile and yet, the media continually laps it up. Economic Leaders? Only in a deluted mind


Thank you!

[Spocket]

amazing how some growth after years of stagnation skews the stats. Explains why comparisons between growth rates are so futile and yet, the media continually laps it up. Economic Leaders? Only in a deluted mind

Well I don't know what a deluted mind is (mixed with something like delusion maybe ?) but I can tell you that the economies of both Saskatchewan and Manitoba have hardly been stagnant for years. In fact, they've outperformed most of the other provinces for some time now. What you're actually talking about is population growth but even that's changed recently. All the same, nobody has any delusions about where either province stands on that count.

[trueviking]

Job losses in July

* numbers in parenthesis represent losses

Canada (55,200)

British Columbia 2,800

Manitoba 800

New Brunswick 200

Nova Scotia 100

Newfoundland (100)

P.E.I. (1,100)

Saskatchewan (4,200)

Alberta (6,800)

Ontario (18,900)

Quebec (29,700)

-- Source: Statistics Canada


http://www.winnipegfreepress.com/subscriber/business/local/story/4210262p-4802866c.html

[trueviking]

amazing how some growth after years of stagnation skews the stats.

uh...you need to do some research before you spout off.

i agree that growth doesnt equate to overall economic size, but to suggest that either manitoba or saskatchewan have had stagnant growth over the last 7-8 years is just completely wrong.

[Boreal]

I couldn't believe it when I saw it this morning. The numbers in Quebec (Ontario too) are absolutely staggering. I was also shocked by Alberta.

[Nicko999]

The job situation in Quebec and in Ontario will get better because of the lower dollar right now. Both provinces have been hit by the high dollar.

[Nicko999]

Average weekly earnings(including overtime)for all employees.

July 2007, June 2008, July 2008, June to July (%change), July 2007, July 2008(%change), Year to date average 2008
http://img150.imageshack.us/img150/6908/scr1222559028zm0.png

[NetMapel]

Average weekly earnings(including overtime)for all employees.

July 2007, June 2008, July 2008, June to July (%change), July 2007, July 2008(%change), Year to date average 2008
http://img150.imageshack.us/img150/6908/scr1222559028zm0.png

Whoa, time to move to Northwest Territories ???

[caltrane74]

Whoa, time to move to Northwest Territories ???

Looks nice, till you have to start buying shit in the NWT, then you'll see that a paycheck there is not so great.

[1ajs]

Looks nice, till you have to start buying shit in the NWT, then you'll see that a paycheck there is not so great.
thats probly not icluding weekly alowances one can get ...

[circle33]

Looks nice, till you have to start buying shit in the NWT, then you'll see that a paycheck there is not so great.

The exception is single malt scotch, which for some reason or other is 20% to 40% cheaper up there.

[1ajs]

The exception is single malt scotch, which for some reason or other is 20% to 40% cheaper up there.
if it aint scotish its crap!