April 24, 2019
Manitoba Shows Positive Economic Performance
– – –Province Leading In Key Categories: Fielding
Manitoba is showing positive progress and growth in several key areas of the economy, Finance Minister Scott Fielding said today.
“Three years ago, Manitobans chose a new direction for their province and elected us to bring greater stability, security and opportunity to people right across the province,” said Fielding. “The numbers show Manitoba is in good economic shape and has improved in key areas, demonstrating confidence in our government’s work to make Manitoba the most improved province in Canada.”
Fielding noted Manitoba is first among the provinces in several key economic indicators including capital spending:
- private-sector capital spending increased by 10.1 per cent in 2018, the highest among provinces;
- since 2015, private-sector capital spending in manufacturing increased by 17.4 per cent annually, the highest among provinces;
- capital spending on machinery and equipment is expected to increase by six per cent in 2019, the highest among provinces; and
- since 2015, capital spending on industrial properties increased by 32.4 per cent annually, the highest among provinces.
The minister noted Manitoba’s improvements are evident in a number of economic areas, from the agricultural sector to auto sales:
- manufacturing employment has increased by 7.3 per cent so far in 2019, the highest among provinces;
- Manitoba’s international exports to the U.S. increased by 21.5 per cent in 2018, best among the provinces;
- total farm cash receipts increased by 9.5 per cent in 2017, the highest in Canada, reaching a record $6.5 billion in 2017;
- real output in agriculture increased by 8.6 per cent in 2017, the best in Canada;
- motor vehicle sales increased by 7.4 per cent in 2018, best in Canada and following a 10 per cent increase in 2017;
- full-time employment has increased by 2.4 per cent so far in 2019, the best growth rate since 2000; and
- private sector self-employment increased by five per cent in 2018, second highest among provinces.
“We are fixing the finances of our province and lowering taxes while continuing to invest in front-line services for all Manitobans,” said Fielding. “The steps we are taking are making Manitoba a more affordable place to live and a more attractive place to do business.”
More information on Manitoba’s economic performance is available at:
www.gov.mb.ca/mbs/manitoba_quick_facts.html.
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