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Oshawa CMA anticipates major GDP growth in city
Posted on April 20, 2021 by oshawaexpress in BUSINESS, CITY, NEWS
Oshawa is expected to see a rebound in gross domestic product (GDP) growth in the Oshawa Census Metropolitan Area (CMA).
The Conference Board of Canada is anticipating GDP growth of 5.2 per cent this year, and 4.7 per cent in 2022, according to the Winter 2021 Major City Insights Report.
The report also anticipates that manufacturing output in the Oshawa area will rebound by 8.2 per cent in 2021 and 8.5 per cent in 2022, while construction output will rebound by 6.8 per cent in 2021 and 4.3 per cent in 2022.
Regional and City Councillor Tito-Dante Marimpitri, chair of the development services committee, says this is positive news for Oshawa that points to solid job and growth projections in the community.