Ontario, British Columbia top Canadian economies

Ontario's auto industry is helping the province to step up in the economy. According to The Conference Board of Canada's Provincial Outlook-Spring 2010 ,Ontario is sharing the top spot with British Columbia.

Average housing prices have surpassed their pre-recession levels in Ontario. More good news is that employment levels have risen since the second half of 2009. It is thought that the stronger labour market will see Ontario residents taking a chance again on big-ticket items. British Columbia's economy is expected to expand by 3.8 percent in 2010. The boost from the Vancouver Winter Games along with recovery in the forestry, manufacturing and construction sectors is fueling growth. Alberta is only expected to have a growth rate of 3.3 per cent this year despite the drilling activity ongoing. The weak job growth in the province is to blame for the lower rating. Saskatchewan continues to grow in the agricultural sector, along with Manitoba. Manitoba will also see a mini-boom in nickel, copper and gold mining. Quebec is also seeing recovery. As the economy improves so does buying. Quebecers are back at the mall and buying homes. While Newfoundland and Labrador are expected to lead the nation in growth next year, this year their growth is predicted at 2.4 percent. "There are clear signs of economic recovery from coast to coast," said Marie-Christine Bernard, Associate Director, Provincial Forecasting in a press release obtained by Digital Journal. "The improved domestic economies of Ontario and B.C., along with increased demand from the United States, will support a strong rebound in both provinces. However, the rebound will be gradual for most other provinces, spreading over the next two years."