By rdnewsNOW staff

Moderate economic growth ahead for Red Deer over next two years

Jun 26, 2018 | 9:17 AM

OTTAWA- The Conference Board of Canada released its economic outlook for the city of Red Deer today.

Highlights of the report include:

– Red Deer’s economy, after expanding strongly in 2017, is forecast to grow more slowly this year and next. Real GDP should rise by 2.8 per cent in 2018 and by 2.2 per cent in 2019.

– Moderating economic growth will slow employment gains to 1.8 per cent in 2018 and to 1.4 per cent in 2019, following 5.0 per cent growth in 2017.

– However, the ongoing job increases will shave the unemployment rate from 8.0 per cent in 2017 down to 7.3 per cent in 2018 and 6.5 per cent in 2019.

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The Conference Board of Canada’s annual Mid-Sized Cities Outlook provides a detailed two-year economic forecast, for four featured cities: Timmins, Brandon, Red Deer, and Prince George.

(Gary McKinnon)