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Royal Bank predicts upturn in Québec economy

Martin Vallií¨res, La Presse – October 7, 2004

Economic growth and job creation should build up steam next year in Québec, according to the economists at the Royal Bank, Canada’s largest financial institution. Growth in Québec should nevertheless be slightly less impressive than that for the overall Canadian economy, revitalized by the Alberta oil boom and the upturn in Ontario following 2003’s disappointing performance. The Royal Bank economists expect the Québec economy to expand by 2.8% in 2004 - a significant improvement over the last year’s 1.6%. The trend should accelerate in 2005, with 3.4% growth in Québec. If the forecasts prove correct, 2005 will be one of the top four years in a decade for the Québec economy.