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Ontario’s economic growth to pick up the pace in 2013: RBC Economics – Financial and Business News – MENAFN

Ontario’s economic growth to pick up the pace in 2013: RBC EconomicsTORONTO, Jun 19, 2013, 2013 (Menafn – Canada NewsWire via COMTEX) –Ontario’s econ

Tech Triangle‘s insight:

“We saw a jaw-dropping 51,000 surge in employment gains in May as well as year-to-date annual job growth jumping to 2.0 per cent, more than double the increase in 2012,” said Craig Wright, senior vice-president and chief economist, RBC. “These encouraging developments should go a long way in convincing skeptics that Ontario’s economic engine has restarted.”

On the external trade front, RBC notes that in the first four months of 2013, exports grew 0.5 per cent, despite momentary fatigue in motor vehicles and parts – Ontario’s top exports – which last year recorded a significant 17 per cent increase. With U.S. auto sales in the midst of a solid recovery, RBC anticipates there is scope for further gains in auto sector exports.

See on www.menafn.com

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