30 July 2015

Economic Growth: Positive Forecast for Sherbrooke

Conference Board of Canada LogoSherbrooke’s economy is expected to strengthen in 2015, according to the forecasts of the Conference Board of Canada in its latest report, Metropolitan Outlook 2: Economic Insights into 15 Canadian Metropolitan Economies: Summer 2015.

After reaching 1.2% in 2014, Sherbrooke’s gross domestic product (GDP) is expected to grow to 2.1% in 2015, supported by the strength of the manufacturing sector, the low Canadian dollar, and the forecasted economic upturn in the United States.

“A number of factors are coming together to ensure strong export growth, which bodes well for the local manufacturing sector,” pointed out a news release.

More specifically, innovation clusters such as the life sciences and technologies offer attractive growth potential in Sherbrooke, said in an interview the Deputy Chief Economist of the Conference Board of Canada, Pedro Antunes, who is foreseeing a growth of nearly 3% in 2016-2017 in these sectors.

Sources : Conference Board of Canada and 107,7 FM Estrie

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