A positive economic outlook for the Great Lakes-St. Lawrence region in 2015 is predicted in a new report released by Bank of Montreal.
“The region’s expansion is expected to accelerate in 2015, as manufacturing and exports in Ontario and Quebec get a boost from a weaker currency and firm U.S. demand, while states in the region see an ongoing housing recovery offset somewhat by the strong U.S. dollar,” BMO’s chief economist Doug Porter said at a forum in Chicago.
“We have seen a big decline in manufacturing employment, not just in this region, but across North America over the last 15 years [but] it is still a very manufacturing intensive region. It does benefit when the manufacturing cycle is improving, and we do see the manufacturing cycle improving for both Canada and the U.S.,” he said. Click here to read more.