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Barrie part of bigger 'engine': economist

Apr 30

BARRIE - Barrie is an important gear in the Ontario engine expected to drive Canada's economy in the coming years, a city business audience heard Thursday morning.

Both Warren Jestin, Scotiabank's chief economist, and Barrie Mayor Jeff Lehman told a Liberty North crowd that the landscape is changing again and business needs to be ready to adapt.

Speaking at the Mayor's Progress Breakfast, Jestin spoke of Europe's economic and political unrest, the strengthening American economy and Ontario's historic ties to it – especially the automotive industry.

"The United States is firing on all cylinders," Jestin said, noting a projected growth rate of 3%.

Western Canada's weakening position, because of lower oil prices, has also opened the door.

"So Ontario is leading in Canada's growth," Jestin said. "In some ways, this is not a hard race to win."

He expects the province's economy to grow by 2.5%.

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Posted by: Littlewood Properties