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Québec International issues Economic Report and Outlooks for the Québec City Census Metropolitan Area - 2014-2015

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Québec International issued the new edition of Economic Report and Outlooks for the Québec City Census Metropolitan Area - 2014-2015 today. It addresses key economic indicators for assessing regional performance and compares them with those for seven other Canadian metropolitan regions (Montreal, Toronto, Ottawa, Winnipeg, Calgary, Edmonton and Vancouver).

Based on Québec International's analysis, the increases in key indicators were greater in 2014 than they were in 2013. According to data made available in April by the Conference Board of Canada, real GDP was up 1.7% in 2014 (1.2% in 2013), accompanied by the net creation of 5,200 jobs, the largest rise in the province. The Québec City region also posted the lowest unemployment rate (5.3%) and the highest employment rate (65.2%). As regards other noteworthy indicators, the region performed strongly in terms of personal income (+3.4%), while non-residential investments ($1.1 billion) nearly reached the record high of 2013 ($1.2 billion).

"Year after year, Québec City's economy is one of the top performers in the province of Quebec and the rest of Canada. The report issued today once again demonstrates that the strategies undertaken to diversify the regional economy have been successful. Employment and economic development are priorities for the provincial government, and we will be pursuing our efforts to ensure that the region maintains its enviable position among Canada's top cities," said Sam Hamad, minister of labour, employment and social solidarity and minister responsible for the Québec City region.

The Québec City region is also expected to record a fine performance in 2015. Various private and public investment projects have already been announced. In addition, improvements to institutional, industrial, commercial and transportation infrastructure will serve to support economic expansion. The improved global outlook and a competitive Canadian dollar will also favour the development of external markets and a stronger manufacturing sector.

"The robust regional economy and the favourable outlook for the coming years will be major drivers of business growth, in addition to attracting talent and investment to the region. Today's report confirms that we have everything we need to continue our rise to the very top," said Carl Viel, CEO of Québec International.

Economic Report and Outlooks for the Quebec City Census Metropolitan Area - 2014-2015 is available online at www.quebecinternational.ca/outlooks2015.

 
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