No Slowdown Here!

Abbotsford will command the highest growth rate among 14 small and mid-sized cities across Canada this year according to a report released by the Conference Board of Canada. Abbotsford and Mission, which comprise the Abbotsford Census Metropolitian Area (CMA), are expected to lead the 14 small and medium CMAs in the country. At 2.5 per cent, Abbotsford is one of only three small to medium-sized urban areas that will post GDP growth above two per cent in 2008.

Abbotsford is not immune to The ongoing downturn in the manufacturing sector which is dragging down economic growth in Canada's small and mid-sized census metropolitan areas. Abbotsford's economic growth is affected by weakening wood-product manufacturing.

A 6.6-per-cent rise in construction output in 2008 will keep Abbotsford's economy going. New home construction is set to post an increase in 2008 as builders are expected to break ground on 1,200 units for the year as a whole, an increase of 12.3 per cent over 2007. Abbotsford's growth should rise to 2.9 per cent in 2009 and 3.0 per cent in 2010 and 2011 according to the Board.

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