Provincial economic growth sluggish

OTTAWA — Only half of the provinces showed positive growth in real GDP last year, Statistics Canada reported on Monday.

OTTAWA — Only half of the provinces showed positive growth in real GDP last year, Statistics Canada reported on Monday.

Saskatchewan led the list, with growth of 4.4 per cent, while Nova Scotia, Prince Edward Island, Quebec, and Manitoba also showed positive numbers.

The GDP fell in Newfoundland and Labrador, Ontario, Alberta and British Columbia, while New Brunswick was unchanged.

Yukon and Nunavut both saw higher GDP, while the Northwest Territories shrank.

The agency said national economic growth was sluggish during the first half of last year, then contracted during the last five months amid global financial turmoil.

It said goods production fell 2.8 per cent in 2008, the first decline since 2001, while services production increased 2.1 per cent.

Saskatchewan’s growth was almost double the 2.5 per cent increase in 2007. The statistics agency said the province’s farms basked in good weather. Potash and uranium production both dropped modestly in volume terms, but strong prices pushed corporate profits up 58 per cent.

In Alberta, a 0.2 per cent decline in real GDP followed a 3.1 per cent increase in 2007. Business investment dropped — especially in the housing sector — although high oil prices in the first part of the years kept corporate profits robust.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Red Deer’s top RCMP officer says some new crime-fighting innovations are already being tested

Supt. Grobmeier said he’s glad to get back to work after the uncertainty of a policing review

Accused getaway car driver in Walmart shooting appears in court

Crystal Maurice is accused of driving the car the shooter used to make his escape

Burger King and Petro-Canada about to open at Junction 42

New highway commercial development is located at Highways 2 and 42 interchange

Sylvan Lake man accused of killing his wife makes court appearance

Satnam Singh Sandhu is charged with second-degree murder

WATCH: Canadian kid shovelling snow video goes viral

Rory might just be Canada’s most popular toddler right now, thanks to… Continue reading

Your community calendar

Jan. 22 Downtown House Senior Center (5414 43 St.) in Red Deer… Continue reading

Hamilton’s Forge FC sells star midfielder Tristan Borges to Belgian team

Forge FC has sold star midfielder Tristan Borges, the leading scorer and… Continue reading

Akim Aliu, who spoke out about racism, signs with Czech team

Akim Aliu, the player who helped prompt a new discussion about racism… Continue reading

Netflix faces growth pressure in Canada as it picks up 125,000 new subscribers

TORONTO — Netflix recruited more Canadian subscribers in the final months of… Continue reading

“Naughty boy:” Monty Python star Terry Jones dies at 77

LONDON — Terry Jones, a founding member of the anarchic Monty Python… Continue reading

Parks Canada says no to gondola proposed from Banff townsite to Mount Norquay

BANFF, Alta. — Parks Canada has rejected a proposed gondola to take… Continue reading

Prison watchdog decries ‘Indigenization’ of Canada’s correctional system

OTTAWA — The proportion of Indigenous people in federal custody has hit… Continue reading

McConnell backs off, abruptly eases impeachment trial limits

WASHINGTON — The U.S. Senate plunged into President Donald Trump’s impeachment trial… Continue reading

Most Read