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WELCOME TO QUÉBEC INTERNATIONAL’S ECONOMIC INFORMATION CENTRE

Here you will find reliable statistics and rigorous analyses on the economic environment of the Québec City metropolitan region.

Every fiscal quarter, we paint a portrait of the region's economic environment and analyze key economic indicators that help to assess regional performance as well as compare economic variables with those of seven other metropolitan areas in Canada: Montréal, Toronto, Ottawa, Winnipeg, Calgary, Edmonton et Vancouver. Four main indicators are selected: economic growth, the labour market, investments and tourism. The analyses on the economy of the Québec City metropolitan region are based on statistical data published by recognized organizations.

THE QUÉBEC CITY METROPOLITAN REGION : SOLID ECONOMIC GROWTH FOR THE FIRST QUARTER OF 2010

The Quebec City census metropolitan area registered solid economic growth in the first quarter of 2010.GDP increased by 1.9% on an annualized basis, surpassing the figures recorded at the end of the recessions of 1991 (+1.7% in Q1-1992) and 1996 (+1.3% in Q1-1997). This recovery, which is based on the performance of all sectors, points to an enviable economic vitality. In this regard, construction starts involving new housing projects, office buildings and businesses supported the real estate sector. In addition, the gradual recovery of new orders benefited high-tech companies and also helped to minimize the downturn in the manufacturing sector.

According to our forecast scenario, Quebec City's economy will continue to grow over the rest of the year. A number of major projects will stimulate residential and non-residential investments. The presence of structured sectors of excellence (finance and insurance, optics/photonics, biotechnology, health foods, etc.) will support the competitiveness of regional companies. In addition, the gradual turnaround of the US economy will lead to a moderately higher number of new orders of manufactured goods. Although not completely immune, the Quebec City region should also be able to adapt to certain constraints, such as the gradual discontinuation of expansionist government policies and the impact of the turbulence observed in Europe.

 
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Economic statistics
Real GDP
 Q1-2018Q1-2017
Quebec City CMA+2.5% +1.8%
Quebec (province)+3.0%+2.8%
Canada+3.0% +2.4%
Labour market
 Q1-2018Q4-2017
Quebec City CMA457,400 (+2.3%)447,500 (+0.7%)
Quebec (province)4,279,600 (+2.0%)4,283,900 (+2.0%)
Job creation
 Q1-2018Q4-2017
Quebec City CMA+10,500+3,100
Quebec (province)+85,000 +84,700
Unemployment rate
 Q1-2018Q4-2017
Quebec City CMA3.6%3.9%
Quebec (province)5.6%5.0%
Capital investment
 2017f2016f2015
Quebec City CMA3.8 B$ (+7.7%)3.5 B$ (-36.2%)2.6 B$ (-19.4%)
Quebec (province)35.9 B$ (+3.2%)34.8 B$ (+0.5%)34.6 B$ (+0.9%)
Venture capital - Quebec City CMA
(total invested)
2016201520142013
30.1 M$ (-57.8%)71.4 M$ (+79.8%)39.7 M $ (+59.0%)25.0 M$ (-50.1%)
Office buildings
(Q4-2017)
 Vacancy rateAverage net rent
Quebec City CMA8.9%11.87$ / sq ft
Downtown Quebec City9.4%11.87$ / sq ft
Ste-Foy7.2%11.47$ / sq ft
Northwest sector10.9%11.32$ / sq ft
Lévis6.5%n/a
Disposable personal income per capita
 2017
Quebec City CMA30,699$ (+1.7%)
Quebec (province)28,541$ (+2.7%)
Canada32,839$ (+2.2%)
Average wage
 2017
Quebec City CMA42,916$ (+1.7%)
Quebec (province)41,185$ (+2.3%)
Canada50,600$ (+2.1%)
Inflation rate
 Q1-2018Q4-2017
Quebec City CMA+1.1% +1.3%
Quebec (province)+1.2%+1.5%
Canada+1.3%+1.5%
Retail Sales (B$)
 Q1-2018Q4-2017
Quebec City CMA15.2 (+3.1%)15.2 (+4.5%)
Quebec (province)128.0 (+3.3%)127.5 (+5.2%)
Total population (M)
 20172036f
Quebec City CMA812,205 (+10% vs 2007)901,100 (+10.9% vs 2017)
Quebec (province)8,394,400 (+9.1% vs 2007)9,394,700 (+11.9% vs 2017)
Active population
 2017
Quebec City CMA462,000 (+0.5% vs 2016)
Quebec (province)4,495,700 (+1.1% vs 2016)
Housing starts - Quebec City CMA
Q1-2018848 (+51.4%)
Q4-20171,812 (+45.1%)
Q3-20172,060 (-6.7%)
Q2-20172,208 (+294.3%)
Residential vacancy rate
 October 2017October 2016
Quebec City CMA4.5%4.9%
Quebec (province)3.4%4.4%
Sources: Conference Board of Canada, Statistics Canada, Quebec Institute of Statistics (ISQ), Emploi-Québec, Altus Group and Canada Mortgage and Housing Corporation.
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