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Profiles of Montréal
Profiles of Montréal
37
MONTRÉAL FACTS AND FIGURES
Political organization
105 Elected officials: the mayor and 104 borough councillors, 73 of whom also sit on City Council.
Territory
27 Boroughs making up the territory of the new city: nine from the former cities of Montréal and Montréal-Est, and 18 constituted from the 27 former suburban municipalities.
482.8 Square kilometres of Montréal territory, which includes 11 islands. The largest, the Island of Montréal, is 50 kilometres long and 16 kilometres across at its widest point.
5,700 Kilometres of roads and 883 kilometres of railway track.
33 Kilometres of corridors, indoor malls and tunnels, making Montréal the leader in terms of underground networks of this type. Every day, some 500,000 people go about their business protected from the elements.
2005 Budget
$3,980,090,300 2005 budget of the Ville de Montréal.
$131.4 Billion, the total value of immovables (416,377 valuation units) throughout the Montréal territory.
23,354.9 City employees, in person-years.
Population
1,812,723 Residents making up the Montréal population. Montrealers account for over half of the 3,426,350 residents of the greater Montréal region (Census Metropolitan Region) and more than a quarter of the population of Québec. A cultural mosaic, the Montréal population comprises members of some 100 cultural communities.
805,820 Montréal households. Families make up more than half of these households and 79% are couples. Among single-parent families, 84% are headed by a woman.
$31,096 Is the average salary for Montréal workers, aged 15 or older. Montréal families earn an average income of $62,409.
805,820 Montréal housing units. The city leads North America and ranks fifth in the world for residential space-price ratio: 64% of residents are tenants and 36%, homeowners.
2005 Budget
38
Education and research
4 Universities, two French- and two English-language, with which are associated renowned schools, such as the École des hautes études commerciales, École polytechnique, École nationale d’administration publique, École de technologie supérieure, and Institut national de la recherche scientifique.
450 University and private research centres that make Montréal an important centre for innovation.
Health
33 Hospitals that are at the heart of the healthcare network that also includes 30 Centres locaux de services communautaires (CLSC).
Economic activity
260 Companies operating in the aerospace industry, concentrating in the Montréal area 60% of activities in this sector of the Canadian economy, and employing some 40,000 people.
20,780,294 Metric tonnes of merchandises passing through the port of Montréal in 2003, the second largest port on the eastern coast of North America.
88
Major corporations with headquarters in Montréal which is also home to 71 international organizations, 45 consulates and 112 international finance centres.
Tourism
302,996 Conventioneers in Montréal over 2003, ranking Montréal third in North American for the annual number of international conventions.
13,200,000 Visitors to the metropolitan region in 2003. Spending by these tourists over the year is estimated at more than $2.4 billion.
40 International festivals and events presented every year. They contribute to Montréal’s cultural wealth, and place it on a par with other leading cultural cities, such as London, Paris and New York.
CITY COUNCIL
MAYOR
Commission de la sécuritépublique
(Public security commission)
Standing committees ofCouncil and commissions
Conseil des arts(Arts council)
Conseil interculturel(Intercultural council)
Ombudsman
Office de consultationpublique
(Public consultation office)
Auditor’s office
Société de transport deMontréalExecutive Committee
Borough councils
Borough mayors
Urban-planningconsulting
committees
Ville de MontréalPolitical organizationDecember 3, 2004
Jean-François ViauChairman
Michel DoyonAuditor
Conseil du patrimoine(Heritage council)
Political bodies Municipal departments
Commission de la fonctionpublique
(Public service commission)
Jacques-Errol GuérinChairman
Johanne Savard
Organizations
Maurice ForgetChairman
Louise LetochaChairwoman
Anna CampagnaChairwoman
Peter B. YeomansChairman
Conseil Jeunesse(Youth council)
Silviu BursanescuChairman
Conseil des Montréalaises(Montréal council of women)
Nicole BoilyChairwoman
Claude DauphinChairman
2005 Budget
40
Gérald TremblayMayor
Boroughs
Ahuntsic-Cartierville
Beauchamp, MauriceDistrict of Saint-Sulpice
Belleli, HasmigDistrict of Acadie
Eloyan, Noushig(Borough's Mayor)District of Cartierville
Lapointe, PierreDistrict of Ahuntsic
Polcaro, AchilleDistrict of Sault-au-Récollet
Anjou
Beaupré, Carol
Miranda, Luis(Borough’s Mayor)
•Hénault, Andrée
Beaconsfield–Baie d’Urfé
Myles, Anne(Borough’s Mayor)
•Birnie, James A. (Jim)District of James-Morgan
•Parent, Anne-MarieDistrict of Beaurepaire
Côte-des-Neiges– Notre-Dame-de-Grâce
Applebaum, Michael(Borough’s Mayor)District of Notre-Dame-de-Grâce
Rotrand, MarvinDistrict of Snowdon
Searle, JeremyDistrict of Loyola
Senécal, FrancineDistrict of Côte-des-Neiges
Tremblay, MarcelDistrict of Décarie
Zajdel, SaulieDistrict of Darlington
Côte-Saint-Luc–Hampstead–Montréal-Ouest
Berku, Dida
Libman, Robert(Borough’s Mayor)
•Housefather, Anthony
Dollard-Des Ormeaux–Roxboro
Janiszewski, Edward(Borough’s Mayor)
Zingboim, Howard
•Bayouk, Zoe
Members of the City Council and of the borough councils 1
1 In conformity with the act on municipalmergers, certain boroughs are divided into electoral districts. In these cases, thedistrict name is indicated below that of the councillor.
Member of the City Council and of the borough council
• Borough councillor
2005 Budget 2005-2007 Three-Year
Capital Works Budget
Dorval–L’Île-Dorval
Yeomans, Peter B.(Borough’s Mayor)
•Bourbeau, Robert M.District of Strathmore
•Rouleau, Edgar A. District of Désiré-Girouard
Kirkland
Meaney, John W.(Borough’s Mayor)
•Gibson, MichelDistrict of Côte-Sainte-Marie
•MacDonald, Brian B. District of Brunswick
Lachine
Cowell-Poitras, Jane
Dauphin, Claude(Borough’s Mayor)
•Blanchet, Bernard
LaSalle
Barbe, Manon(Borough’s Mayor)
Deschamps, Richard
Farinacci, Alvaro
•Kaluzny, OksanaDistrict of Sault-Saint-Louis
•Vadacchino, MichaelDistrict of Cecil-P.-Newman
L’Île-Bizard–Sainte-Geneviève–Sainte-Anne-de-Bellevue
Cardinal, Jacques(Borough’s Mayor)
•Bélanger, RichardDistrict of Jacques-Bizard
•Tierney, BillDistrict of l’Anse-à-l’Orme
Mercier–Hochelaga-Maisonneuve
Dompierre, RicherDistrict of Maisonneuve
Faust, LynDistrict of Louis-Riel
Larivée, LucDistrict of Hochelaga
Le Duc, Ivon(Borough’s Mayor)District of Tétreaultville
Saint-Arnaud, ClaireDistrict of Longue-Pointe
Montréal-Nord
Gibeau, Jean-Marc
Infantino, James V.
Parent, Marcel (Borough’s Mayor)
•Fortin, NormandDistrict of Ovide-Clermont
•Morin, Georgette L.District of Marie-Clarac
Mont-Royal
Caron, Suzanne (Borough’s Mayor)
•Carrie, CliffDistrict of Frederick-G.-Todd
•Stephens, NicholasDistrict of Rockland
Outremont
Harbour, Stéphane (Borough’s Mayor)
•Cinq-Mars, MarieDistrict of Joseph-Beaubien
•Piquette, Claude B.District of Jeanne-Sauvé
Pierrefonds-Senneville
Ward, Bertrand A.
Worth, Monique(Borough’s Mayor)
•Leblanc, René E.
Plateau-Mont-Royal
Fotopulos, Helen (Borough’s Mayor)District of Mile End
Poulin, ChristineDistrict of Laurier
Prescott, MichelDistrict of Jeanne-Mance
Tétrault, NicolasDistrict of Plateau-Mont-Royal
Pointe-Claire
McMurchie, Bill(Borough’s Mayor)
• Iermieri, AldoDistrict of Donegani
•Trudeau, MorrisDistrict of Valois
Rivière-des-Prairies–Pointe-aux-Trembles–Montréal-Est
Maciocia, Cosmo(Borough’s Mayor)District of Marc-Aurèle-Fortin
Minier, Marius District of Pointe-aux-Trembles
Paul, ColetteDistrict of Bout-de-l’Île
Plante, MichelDistrict of Rivière-des-Prairies
Rosemont–La Petite-Patrie
Bourque, PierreDistrict of Marie-Victorin
Larouche, Denise(Borough’s Mayor)District of Vieux-Rosemont
Plante, Jean-FrançoisDistrict of Louis-Hébert
Purcell, FrançoisDistrict of Saint-Édouard
Thibault, NicoleDistrict of Étienne-Desmarteau
Saint-Laurent
DeSousa, Alan(Borough’s Mayor)
Vacant
Vacant
•Biron, Michèle D.District of Norman-McLaren
•Cohen, MauriceDistrict of Côte-de-Liesse
Saint-Léonard
Bissonnet, Yvette
Perri, Dominic
Zampino, Frank(Borough’s Mayor)
•Battista, MarioDistrict of Port-Maurice
•Zambito, Robert L.District of Grande-Prairie
Sud-Ouest
Bousquet, RobertDistrict of Émard
Hamel, Line District of Louis-Cyr
Montpetit, Jacqueline (Borough’s Mayor)District of Pointe-Saint-Charles
Verdun
Bossé, Georges(Borough’s Mayor)
Dugas, Laurent
Trudel, Claude
•Gallagher, JohnDistrict of Desmarchais-Crawford
•Marotte, GinetteDistrict of Champlain
Ville-Marie
Laramée, RobertDistrict of Saint-Jacques
Lemay, Martin (Borough’s Mayor)District of Sainte-Marie
O’Sullivan-Boyne, LouiseDistrict of Peter-McGill
Villeray–Saint-Michel–Parc-Extension
Deros, MaryDistrict of Parc-Extension
Lachance, SylvainDistrict of Villeray
Samson, Anie District of Jarry
Tamburello, Paolo (Borough’s Mayor)District of Saint-Michel
Venneri, FrankDistrict of Jean-Rivard
Westmount
Marks, Karin(Borough’s Mayor)
•De Castell, JohnDistrict of Côte-Saint-Antoine
•Lulham, CynthiaDistrict of W.-D.-Lighthall
Gérald TremblayMayor
Frank ZampinoChairman of theExecutive Committee
Francine SenécalVice-chairwoman of theExecutive Committee
Michel PrescottVice-chairman of theExecutive Committee
The Executive Committee
Georges BosséMember of theExecutive Committee
Claude DauphinMember of theExecutive Committee
Alan DeSousaMember of theExecutive Committee
Helen FotopulosMember of theExecutive Committee
Stéphane HarbourMember of theExecutive Committee
Cosmo MaciociaMember of theExecutive Committee
Louise O’Sullivan-BoyneMember of theExecutive Committee
Associate councillors
Michael ApplebaumManon BarbeCarol BeaupréRichard DeschampsDominic PerriMarcel TremblayClaude TrudelMonique Worth
2005 Budget 2005-2007 Three-Year
Capital Works Budget
Profiles of Montréal
45
The Strategic Committees
Le comité sur les finances, les services administratifs et corporatifs et la gestion stratégique Gérald Tremblay, mayor Richard Deschamps Georges Bossé Claude Dauphin Frank Zampino Helen Fotopulos
Le comité sur la qualité de vie et la sécurité publique Helen Fotopulos Louise O’Sullivan Michel Prescott Georges Bossé Monique Worth
Le comité sur la mise en valeur du territoire, du patrimoine et de la culture Georges Bossé Alan DeSousa Cosmo Maciocia Francine Senécal Dominic Perri Stéphane Harbour Manon Barbe
Le comité sur les infrastructures, le transport et l’environnement Claude Dauphin Alan DeSousa Michael Applebaum Carol Beaupré
Commission de la présidence du conseil
ChairmanMarcel Parent
Vice-chairwomanClaire Saint-Arnaud
MembersDida BerkuLaurent DugasLuc LarivéeCosmo Maciocia Colette PaulMarvin RotrandAnie Samson
Commission sur lesaffaires corporatives, la gestion stratégique, le capital humain et la diversité ethnoculturelle
ChairmanClaude Trudel
Vice-chairwomanMary Deros
MembersCarol BeaupréMaurice CohenSylvain LachanceChristine PoulinNicolas TétraultNicole Thibault
Commission sur le développement culturel et la qualité du milieu de vie
ChairwomanJane Cowell-Poitras
Vice-chairwomanHasmig Belleli
MembersMario BattistaMarie Cinq-MarsSylvain LachanceGinette MarotteMarius MinierJean-François Plante
Commission sur les finances et les services administratifs
ChairmanBertrand A. Ward
Vice-chairmanFrank Venneri
MembersManon BarbeJean-Marc GibeauLine HamelClaude B. PiquetteMichel PlanteEdgar A. Rouleau
Commission sur la mise en valeur du territoireet le patrimoine
ChairmanRichard Deschamps
Vice-chairmanMarvin Rotrand
MembersMichèle D. BironRobert M. BourbeauJacques CardinalRicher DompierreFrançois PurcellRobert L. Zambito
Commission sur le transport, la gestion des infrastructures et l’environnement
ChairwomanManon Barbe
Vice-chairmanMaurice Beauchamp
MembersMichael ApplebaumRichard BélangerRobert BousquetMarius MinierAnne-Marie ParentAchille Polcaro
Commission de lasécurité publique
ChairmanPeter B. Yeomans
Vice-chairmanMarcel Tremblay
MembersCarol BeaupréJean-Marc GibeauLyn Thériault-FaustMonique WorthSamir Rizkalla (representative of the Québec government)
Standing committees of Council and Commission de la sécurité publique
2005 Budget 2005-2007 Three-Year
Capital Works Budget
Profiles of Montréal
47
TIMELINE MONTRÉAL RESIDENTS: KEY PLAYERS IN THE BUDGET PROCESS The city of Montréal’s annual budget, which is tabled in November, adopted in December and comes into force on January 1, results from an ongoing process of planning and preparation that is spread out over the first ten months of the year preceding the fiscal year for which it is prepared. A large number of contributors, including political decision-makers and administrative staff, are involved in the formulation of this budget. Residents also play an important role in the process as they can foster awareness among elected officials of particular needs during the public borough council and city council meetings held throughout the year. The following timeline illustrates major stages of the political process and the roles played by its key figures. For additional information on these political players, please refer to the organizational chart entitled “Democratic Organization” in this section on page 39 of this document.
Out of a concern for open and effective management, the city administration has defined and adopted a budget management framework that serves as the basis for its efforts in areas of budget management and municipal finance. 1. Establishing the three-year financial framework The first step in producing the annual budget is to determine which of its components will affect revenues or expenditures over the subsequent three-year period. A “three-year financial framework” results from this exercise. The financial framework is repeatedly revised by the finance department from January through March. The administration, which approves major budget strategies, is frequently informed of the details of this strategy.
2005 Budget
48
To achieve a balanced budget (one in which revenues are equal to expenditures), the administration and the business units consider the factors involved in the growth of revenues of expenditures in view of establishing a list of key activities and of making the necessary changes to the budget. 2. Allocating budget allowances to the business units and updating the city’s financial
framework The transmission in mid-June of budget allowances to each of the city’s business units marks the start of the effort involved in preparing the next fiscal year’s budget. At the same time, the finance department proceeds with a revision of the city’s financial framework based on the budget allowances granted to the business units, strategic factors and subsequent events. This document contains the assumptions that have served in preparing the budget. 3. Budget proposals of the borough mayors and the city departments The borough mayors present reports to the city administration on the financial situations of their respective boroughs in the month of August. In September, the 27 borough councils draw up their budgets based on information provided to them by borough staff. In October, the boroughs table their budgets and their business plans with the city’s executive committee. The various city departments, for their parts, distribute their budgets and business plans to senior management. 4. Tabling the budget Final details are added to the financial scenarios that will serve to assist executive committee members in defining their fiscal strategy. The last adjustments are made to the budget in preparation for its tabling, study and adoption by the city council. Once the proposals have been confirmed in November, the budget is submitted to the executive committee for approval. At this ultimate stage, unit budgets are reviewed by members of one of the Council’s seven standing committees. The budget of the Service de police is reviewed by the Commission de la sécurité publique. As all commission meetings are open to the public, residents are able to voice their opinions on the key objectives that have been set by the city administration. The commissions then report to the council. 5. Adoption of the budget The budget is adopted in December during a special meeting of the city council. Times and dates of borough council and city council meetings appear in local weekly newspapers and on the city of Montréal’s Web site at: ville.montreal.qc.ca. For further information on the various steps involved in the budget formulation process, please refer to the Budget Process in Appendix 5.
CITY COUNCIL
Executive Committee
DIRECTION GÉNÉRALERobert AbdallahDirector General
Borough councils
Service de la sécurité incendiede Montréal
Serge TremblayDirector
Service des servicesadministratifs
Guy HébertSenior Director
Service des finances
Robert LamontagneSenior Director and Treasurer
Service de la gestionstratégique, du capital humain
et de la diversité ethnoculturelleChristian Tremblay
Senior Director
Service des affairescorporatives
Robert Cassius de LinvalSenior Director
Service du développementculturel et de la qualité du
milieu de vieRachel Laperrière
Assistant Director GeneralMarc Tremblay
Assistant Director General
Service des infrastructures,transport et environnement Service de police
Anjou Borough
Jacques RiouxDirector
Mercier–Hochelaga-
Maisonneuve Borough
Michel ArchambaultDirector
Montréal-NordBorough
Daniel L'ÉcuyerDirector
Rivière-des-Prairies–Pointe-aux-Trembles–Montréal-Est Borough
Pierre SantamariaDirector
LaSalle Borough
Gervais LemayDirector
Mont-Royal Borough
Ava L. CouchDirector
Outremont Borough
Pierre A. ChapuisDirector
Plateau-Mont-Royal Borough
Johanne FalconDirector
Ahuntsic-CartiervilleBorough
Louis B. ProvencherDirector
Beaconsfield-Baie d'Urfé Borough
Patrice BoileauDirector
Côte-Saint-Luc–Hampstead–Montréal-
Ouest Borough
David JohnstoneDirector
Dollard-Des Ormeaux–Roxboro Borough
Jack BenzaquenDirector
Dorval–L'Île-Dorval Borough
Pierre LarivéeDirector
Rosemont–La Petite-Patrie
BoroughPaul Bourret
Director
Saint-LéonardBorough
Gérard SoulardDirector
Villeray–Saint-Michel–Parc-Extension Borough
Érick SantanaDirector
Sud-Ouest Borough
Gilles RainvilleDirector
Ville-Marie Borough
Jean MercierDirector
Verdun Borough
Gilles BarilDirector
Westmount Borough
Bruce St. LouisDirector
Lachine Borough
Pierre BernardinDirector
Pierrefonds-Senneville Borough
Jacques ChanDirector
Pointe-ClaireBorough
Richard WhiteDirector
Saint-LaurentBorough
Victor MainvilleInterim Director
Côte-des-Neiges–Notre-Dame-de-Grâce Borough
Gaétan RainvilleInterim Director
Kirkland Borough
Barry WeldonDirector
L'Île-Bizard–Sainte-Geneviève–Sainte-Anne-de-Bellevue
BoroughJean-Paul Collinge
Director
East Boroughs
Central Boroughs
West Boroughs
Commission des servicesélectriques
(Electrical services commission)
Serge BoileauChairman
Ville de MontréalAdministrative organizationDecember 3, 2004
Yves ProvostAssistant Director General
Michel SarrazinDirector
Political bodies Organizations Municipal departments Boroughs
Service de la mise en valeur duterritoire et du patrimoine
2005 Budget
50
2005 Budget
52
Profiles of Montréal
53
ECONOMIC PORTRAIT
THE ECONOMY OF GREATER MONTRÉAL, ITS EVOLUTION AND ITS OUTLOOK Montréal’s economy demonstrated renewed vitality in 2004 after having suffered from the impact of the American slowdown in 2003 and adverse effects from a variety of unforeseeable events, such as SARS and Mad Cow disease, which served to destabilize the Canadian economy over part of the year. The evolution of economic indicators indicates that Montréal’s economic recovery, which began in 2003, will continue through 2005.
Turning around the metropolitan economy in 2004 Factors including the growth in exports, continued low interest rates and vitality in such sectors as construction have, according to statistics for the first half of 2004, helped turn around Montréal’s economy and enabled it to participate in the overall growth of the North American economy. While this recovery may not be equal in all sectors and may be subject to sharp monthly fluctuations, it is clearly present and is now being felt in terms of employment, according to regional statistics. For the first eight months of the year, the annualized employment level for the metropolitan region was up by 42,000 employed persons (+2.4%). The unemployment rate, which was 9.5% in 2003, tapered off to 8.2% over the first eight months of the year. The employment rate rose slightly, from 61.8% in 2003 to 62.0% in 2004. This turnaround in employment has been particularly impressive throughout the city of Montréal, with the number of employed persons rising 3.3% from 880,800 in 2003, to an annualized level of 910,300 in August 2004. The unemployment rate, which figured at 11.5% in 2003, dropped to 10.3% in the first quarter and 8.8% in the second.
Unequal recovery by sector A review of major sectors of activity reveals that the degree of recovery trend varies sharply from one industry to the next. The manufacturing sector, which had been hard hit by the US slowdown, seems to have adjusted to the appreciation of the Canadian dollar and is enjoying a growth in sales. As province-wide statistics show Québec’s factory shipments, a large share of which originates in the metropolitan region, grew at an annualized pace of 5.9% from January to July 2004. Over that same period, Québec’s exports rose 5.3%. The number of manufacturing jobs increased only in Greater Montréal, rising from 295,600 in 2003 to 305,300 in the third quarter of 2004, for growth of 3.3%.
2005 Budget
54
Regional sales remained firm in the commercial sector, but growth was sporadic. Employment declined surprisingly in this area, despite the fact that sales rose from $31.7 billion in the first quarter to $39.1 billion in the second. The industry that proved most surprising in terms of its 2004 growth was construction. After advancing 54.5% in 2002 and 18.3% in 2003, the annualized number of housing starts for the region reached 28,800 units in the first eight months of the year, for annualized growth of 26.9%. If this trend persists throughout the last four months of 2004, it will be the sixth year in a row in which the number of housing starts has climbed in the city of Montréal. With issuance of building permits totalling a record $6.1 billion in the first eight months of the year, for a year-on-year rise of 21.6%, vigorous activity is expected to continue in this sector over the next few months. Most of Montréal’s new construction has pertained to the residential sector. This situation seems to be persisting, as the number of building permits issued in the first eight months of the year is up 30.8% year-on-year. The non-residential sector, which has enjoyed intense activity over the past three years as result of the government’s Public Investment Acceleration Plan (launched in 2001) and of major investments in the commercial sector (made in 2002), cooled down somewhat in 2004. The slowdown was particularly marked in the manufacturing field, with the completion of certain major projects, and in the office building sector, where the vacancy rate rose. This period of consolidation is, however, likely to be of short duration in view of demand and the fact the number of non-residential building permits climbed 11.3% year-on-year during the first eight months of 2004. The outlook for Greater Montréal’s construction industry is accordingly upbeat over the mean term. The only adverse factors that might arise would be a swift rise in interest rates, a tightening of public investment or a dramatic slowdown in the economy as a whole. Capital expenditures should also continue to rise in 2004, based on investment forecast surveys. Available statistics for 2004 demonstrate year-on-year growth of 4.5%. New construction expenditures will exceed $12.6 billion (up 5.2%), at a time in which expenditures on machinery and equipment total some $8.8 billion (up 3.4%). The manufacturing sector will, in particular, boost its capital expenditures by 9.6% as the result of major equipment and machinery investments (a 13.4% rise).
Profiles of Montréal
55
The tourist industry recovers from recent hard times The slowdown of the American economy and the various crises that marked the year 2003 resulted in a decline in tourist activity for Montréal. However, available figures for 2004 reveal that after a fairly slow start for the year, a correction seems to be in progress. Hotel occupancy rates for the first seven months climbed from 62.8% in 2003 to 64.9% in 2004. The number of occupied rooms rose by 2.7% and 21 conventions have been held in Montréal this year to date—the same number as in all of 2003—with more conventioneers than in 2002 and in 2003 combined.
Rise in air and port traffic Air and port traffic enjoyed accelerated growth in 2004, reflecting the economic recovery. For the first seven months of the year, the number of passengers embarking and debarking at Pierre Elliott Trudeau (Dorval) and Mirabel airports rose 18.3%, year-on-year. Domestic traffic grew most quickly (up 24.4%). Port activity maintained its momentum in 2004. The port handled more than 11 million tonnes of freight during the first half of the year for a year-on-year rise of 15.6% (1.5 million tonnes). Montréal is now the main North American container transit port. Port activity is a function of the economic situation and international trade. Such trade is currently proliferating and the port expects a record year in 2004. This trend may develop over future years.
Conclusion The evolution of Montréal’s key economic indicators over the past few months demonstrates that this economy is participating in the North American recovery trend that began in mid-2003. The strength of this growth varies from sector to sector, but unemployment is down and employment is up, overall. Some industries, such as construction and port activities, are enjoying record levels of activity. Manufacturing and tourism, on the other hand, are gradually recovering some of the ground they lost in 2002 and 2003. Forecasts for 2004 and 2005 are, furthermore, fairly rosy, with real GDP growth expected at more than 3% for Québec as a whole. Recent performance and the short-term outlook for Montréal’s economy fail, however, to eradicate every concern for the future. Major efforts must be made to meet the administration’s goals with respect to GDP growth and to contend with the various challenges of globalization.
2005 Budget
56
Since Montréal’s economy is heavily dependent on foreign and on primarily American outlets, growth forecasts could be improved by diversifying export markets. This strategy would enable Montréal’s economy to benefit from the vitality of Asian and European economies, in particular. Readers seeking additional information on Montréal’s socio-demographic situation may visit ville.montreal.qc.ca/finances.
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