Great Lakes Region: North America's Economic Engine
There is little question of the importance of the Great Lakes-St. Lawrence Region to North America's economic output, employment and trade, according to a new report from BMO Economics.
The report, North America's Economic Engine, was released during a keynote address by BMO Chief Economist Doug Porter at the Council of the Great Lakes Region's Great Lakes Economic Forum in Chicago, and projects a positive economic outlook for the region.
"The Great Lakes-St. Lawrence region - which would rank as the third largest economy in the world if it were a country - is a vital driver of North American economic output, employment and trade, accounting for nearly a third of combined Canadian and U.S. output, jobs and exports," said Mr. Porter. "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 U.S. states in the region see an ongoing housing recovery offset somewhat by the strong U.S. dollar."