Thursday, September 17, 2009

Quebec Holds Its Own During Downturn: RBC

The Coalition Bois Québec, launched Tuesday at CEGEP Marie Victorin in Montreal, wants to support Quebec's economy by increasing the use of wood as a building material.Photograph by: Marie-France Coallier, The Gazette

From The Montreal Gazette:

MONTREAL - Manitoba likely will be the only Canadian province to show positive growth in 2009, but Quebec’s overall performance during the recession has been relatively strong, financial group RBC says in its latest economic report.

“Strong capital spending on public infrastructure and a resilient housing sector have been Quebec’s main buffers against the downturn,” said Craig Wright, senior vice-president and chief economist for RBC. “While those expenditures are moving forward, private firms have reduced their capital goods spending which is weakening the province’s economic outlook.”

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