Winnipeg Economic Highlights
What are Winnipeg Economic Highlights?
EDW regularly publishes economic highlights to provide statistical information and a concise analysis of economic indicators, trends, comparative data, labour, real estate and construction numbers for Winnipeg. Data from institutions like Statistics Canada and the Conference Board of Canada is scrutinized to compile these reports.
For comparative purposes, all available reports dating back to 2003 are stored here. The current year's editions are displayed below; previous years are archived chronologically (at right).
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2015 Winnipeg Economic Highlights: Annual Review
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Winnipeg’s economy grew at a moderate pace throughout 2015, comparable to the previous three years, where real gross domestic product (GDP) growth edged above two per cent. Specifically, real GDP increased by 2.3 per cent in 2015. Employment growth increased by 3.2 percent and ranked No. 1 among metropolitan areas, this represents a 20-year high. Investments in new residential and nonresidential construction softened in 2015 relative to previous years. Both residential and nonresidential building permit values were down from last year. Winnipeg’s office market showed signs of improvement through declining vacancies and rising average rents. Winnipeg and Manitoba’s retail sales were stable and generated moderate growth in 2015. Manitoba’s average weekly earnings kept pace with the national average.
2015: Winnipeg Economic Highlights, 1st and 2nd Quarters
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During the first six months of 2015, Winnipeg’s economy posted moderate real gross domestic product (GDP) growth of approximately one per cent. Winnipeg’s real GDP is forecasted to advance by 2.6 per cent in 2015, reaching a seven-year high. Employment is projected to generate healthy growth in 2015, which compares favourably to the previous year when employment stagnated. In the first half of 2015, Winnipeg’s employment grew 2.8 per cent compared to the same period last year. Encouraging trade activity continues, with increases in exports and manufacturing shipments. The value of investments into new residential and nonresidential construction is mixed: residential construction declined nine per cent due to supply exceeding demand. There were strong investments in nonresidential construction, with the exception of the commercial market, where building permit values are currently lower than they were at this time last year. Overall, Winnipeg’s office market showed signs of improvement through declining vacancies and rising average rents. Winnipeg and Manitoba’s retail sales are expected to post annual growth of two per cent and 1.5 per cent respectively in 2015. Manitoba’s average weekly earnings have also increased, becoming more competitive nationally.