Vancouver in Canada’s eighth place in CIBC economic activity ranking

Despite consistently being named as Canada’s most expensive city, Vancouver doesn’t even rank in the top five when it comes to economic activity.

Despite consistently being named as Canada’s most expensive city, Vancouver doesn’t even rank in the top five when it comes to economic activity.

According to CIBC World Markets’ latest Canadian Metropolitan Economic Activity Index released this morning, Vancouver comes in eighth place, well behind Edmonton, Calgary and Regina, in terms of the strength of its economy.

The top spot goes to Toronto for the second year in a row. That city has benefited from improving U.S. auto demand and activity in the construction and manufacturing sectors.

“What’s so impressive about Toronto’s performance is that the city has topped our ranking for more than a year,” said CIBC deputy chief economist Benjamin Tal.

Montreal did not make it into the top 10.

The index is based on several factors, including population growth, employment growth, unemployment rate, bankruptcy rates and housing starts.

The top 10 cities and their respective index scores are:

1. Toronto (20.6);

2. Calgary (19.5);

3. Regina (18.4);

4. Winnipeg (18.4);

5. Saskatoon (18.2);

6. Edmonton (17.8);

7. Ottawa (16.8);

8. Vancouver (14.0);

9. Halifax (13.8); and

10. Saguenay (11.2).

ecrawford@biv.com

@EmmaCrawfordBIV

comments powered by Disqus

Also Read

More From Economy

Average weekly earnings for non-farm employees in Canada grew 1.4% to $948 in May — the lowest level of growth since October 2013. 

Read Article

Despite declines in mergers and acquisitions (M&) throughout Canada for the fourth consecutive quarter, B.C. managed to buck the trend in Q2 and even boost ...

Read Article

The impact of declining oil prices in the last quarter of 2014 is starting to manifest itself in consumers across Alberta and Saskatchewan, according to ...

Read Article

Fiona Anderson discusses BIV's exclusive listing of the top 100 highest-paid execs in the province

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×