CANADIAN IMMIGRATION NEWS

Alberta growth leads country for third straight year

Wednesday, 25 April 2007

Alberta growth leads country for third straight year

Alberta growth leads country for third straight year Last Updated: Wednesday, April 25, 2007 | 1:24 PM ET CBC News Alberta's economy grew by more than twice the national average last year — marking the third successive year the province has topped the growth parade. The 2006 provincial economic accounts show Alberta's real GDP jumped by 6.8 per cent. Real GDP growth Prov./Territory 2006 2005 N.L. 2.8% 0.4% P.E.I 2.0% 2.1% Nova Scotia 1.1% 1.6% New Brunswick 2.6% 0.3% Quebec 1.7% 2.2% Ontario 1.9% 2.8% Manitoba 3.3% 2.7% Saskatchewan 0.4% 3.1% Alberta 6.8% 4.6% B.C. 3.6% 3.7% Nunavut 5.8% (1.1%) N.W.T. 2.9% 0.1% Yukon 2.9% 5.2% Canada 2.7% 2.9% Source: Statistics Canada "Oil prices continued to rise throughout 2006, spurring investment in Alberta's oilsands, which in turn benefited most areas of the economy," Statistics Canada said Wednesday. By comparison, the national economy advanced by 2.7 per cent last year. In some ways, the 2006 economic story was a "west versus the rest" affair. British Columbia again outpaced the national economy, with growth of 3.6 per cent last year. Manitoba's 3.3 per cent growth rate was helped by strong exports of wheat and canola on the heels of the best crop in three years. Saskatchewan's output growth slowed to just 0.4 per cent, as uranium, potash, and wheat production fell, Statistics Canada said.