Slower economic growth forecast for Waterloo Region
Downtown Kitchener is seen in aerial footage from the CTV News chopper from August 2014.
Published Friday, August 4, 2017 5:25PM EDT
Like many mid-sized communities in southern Ontario, Waterloo Region will see its economic growth slow down a little bit this year, the Conference Board of Canada says.
A new report from the organization pegs the region’s economic growth rate for 2017 at 1.6 per cent, after running at 2.1 per cent in 2016.
Much of the projected increase is based on construction activity, with the relatively low Canadian dollar contributing to a slight increase in manufacturing output.
The report also finds that the region’s housing prices remain low enough to continue to attract newcomers to the area.