Lethbridge Economic Forecast

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Lethbridge is the financial and commercial center in Southern Alberta. Although the economy has traditionally been agriculture-based, the city has seen a growth in other sectors until it became home to strong retail, education, and hospitality industries, which employ half of the population. The top five employers in the city are all government-based. Transportation services such as the Greyhound buses, railways, and an airport are concentrated near the city.

Economic forecast

Despite the recent economic storm, the city has stood firm, seeing the influx of investors and the boom in business in all sectors of the economy. Construction projects were going full swing in 2008 at the height of the economic slump. The real estate market was the first to show signs of slowing down a few years ago, after a boom in real estate in 2006 and 2007. However, the real estate market seems to have recovered, with brokers seeing an increase in consumer confidence reminiscent of the 2006-2007 boom years. Sales are slow for above $300,000 market, which still has a lot of surplus, but there are signs that this market is pushing from the bottom up. The government has been trying to remedy the situation by lowering mortgage rates and rentals to historic rock bottom levels, and urging people to take advantage of the historic low prices.

When it comes to other sectors of the economy, Lethbridge saw an increase in retail sales in 2009. Because of the city's diverse economic sectors, from agriculture to hospitality, the city has a resilience that is not often found in single-economy cities. This makes the city still a favorable point of investment even during times of economic recession.

Other online resources

For more resources on the economic forecast on Lethbridgre, you can visit the Lethbridge official town site.