Conference Board of Canada gives P.E.I. a B on economic report card

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Behind Alberta, Sask., Newfoundland, Ontario and B.C., but ahead of Quebec, Manitoba, New Brunswick and Nova Scotia

A recently released Conference Board of Canada economic report card gave P.E.I. a B grade.

A new report card from the Conference Board of Canada gives P.E.I. a B grade when it comes to the province’s overall economic performance.

The report card, which compared the 10 provinces and 16 advanced countries, ranked P.E.I. 15th.

That put it behind Alberta, Saskatchewan, Newfoundland and Labrador, Ontario and B.C., but ahead of Quebec, Manitoba, New Brunswick and Nova Scotia.

Canada as a whole ranked 8th behind several individual provinces, Australia, Ireland, the U.S. and Norway.

In a news release, the Conference Board of Canada’s chief economist Glen Hodgson, said P.E.I. benefitted from solid economic growth in the manufacturing sector and strong employment growth in some service sectors.

The province scored an A+ for employment growth thanks to a gain of almost two per cent in 2013, although the small labour market means a small gain in employment in one sector of the economy can have a significant impact on overall growth.

P.E.I. also got an A+ for inward greenfield foreign direct investment (FDI) between 2008 and 2012.

Greenfield FDI is investment that expands an existing business or creates new business, as opposed to a merger or acquisition.

The province’s overall ranking would have been better but D grades in three indicators brought it down.

That included P.E.I.’s unemployment rate which is the highest in Canada and was only ahead of Ireland.

P.E.I.’s income per capita was also last and it had no recorded outward FDI.

Organizations: Conference Board of Canada

Geographic location: Canada, Ireland, Alberta Saskatchewan Newfoundland and Labrador Ontario Quebec Manitoba New Brunswick Nova Scotia Australia U.S. Norway

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  • tommy
    May 16, 2014 - 08:20

    Many policies, such as renewable energy requirements, the mandated use of biofuels and strict appliance standards that are intended to limit energy use or increase its cost often have no possible environmental benefit, the report argues, but only serve to reduce competitiveness, rates of return and, ultimately, economic growth. http://canadaloansearch.com/

  • Discouraged!
    May 15, 2014 - 20:45

    The Island's unemployment rate is the highest in Canada and the per capital income is the lowest in Canada; while Wes keeps increasing taxes to Islanders. He also keeps spending wildly; by giving handouts to Liberal friends and bag men, increasing the debt by a billion dollars in only eight years!

  • Impeach Ghizzy
    May 15, 2014 - 16:59

    He is destroying the economy. Meyers would do a better job.

  • Ghiz is great
    May 15, 2014 - 16:08

    So our economy is doing pretty well except there are no jobs, we are among the poorest people in the western world and nobody will invest a dime here. I guess it is Ok. Give us four weeks of summer and a few too many beer and everything will be fine. I guess.