The Conference Board of Canada reports that the Metro Vancouver economy will increase by a solid 3.3% in 2008, despite higher housing prices, which puts it in 4th place alongside Abbotsford. Last year, Vancouver’s economy grew by 3%. The reason, according to the Board, is non-residential activity, such as retail sales (predicted to grow by 6.7%), employment and personal income.

Western Canada had the top 5 spots in this year’s growth forecast, with Calgary (4.2%), Edmonton (4%), Winnipeg (3.4%), Vancouver (3.3%), Abbotsford (3.3%). Strong energy demand, furious construction activity and robust consumer spending continue to drive Calgary’s outlook. A strong employment market in Winnipeg is helping to attract more immigrants. Toronto placed 7th on the list with a growth forecast of 2.8% with, again, consumer spending helping to balance out the decimated manufacturing sector. Victoria comes in at 9th on the list with 2.7%, Ottawa-Gatineau at 11th and Saskatoon at 12th.

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