Image: Tyler Walsh, Economic Development Winnipeg
Our local financial forecast is often tied to wider economic trends and realities. Confidence in our economic health drives many decisions that affect our lives. With the release of The Manitoba Chambers of Commerce 2019 Manitoba Business Outlook Survey, we can also understand how hundreds of business leaders feel about the economic health of our province.
Economic confidence and direction set by these business and government leaders help shape decisions on business expansion and hiring that trickle down to impact the health and well-being of our city. It’s important to remember, though, that local economic indicators are also linked to a wider, global picture.
Peg integrates local data with the United Nations’ 17 Sustainable Development Goals (SDGs)
The Peg community indicator system website uses innovative technology to track how Winnipeg is doing on key issues and after undergoing upgrades in 2018, now links that progress to the United Nations’ Sustainable Development Goals (SDGs). Canada joined 192 other countries in 2015 in committing to the SDGs as a way to encourage everyone—government, business, nonprofits and individuals—to work together to make a better, more sustainable and equitable world.
Peg data gives us important insights into many trends and key economic indicators through interactive graphics and useful, understandable context.
Winnipeg shows healthy economic trends
One of the most widely used indicators of economic health, for example, is Gross Domestic Product (GDP). Peg tells us Winnipeg’s GDP—which is a measure of the total market value of goods and services produced by our city—has been rising steadily for a decade.
Another key economic indicator, Housing Starts, shows a strong upward trend in Winnipeg.
Other than a couple of fluctuations, including a dip during the economic downturn 10 years ago, the number of housing starts has trended up steadily for almost 20 years to a peak of 5,023 in 2017—five times the level measured in 2000. This indicator also ties into the SDG of Decent Work and Economic Growth, as well as Sustainable Cities and Communities.
Peg Basic Needs, Social Vitality & Governance indicators help us understand our city
Many Peg indicators, including Homelessness, Food Bank Use, Quality of Life and Median Household Income, are tied to economic indicators and can help storytellers, media, decision-makers and all Winnipeggers understand how we’re collectively doing and where we need to focus greater effort.
The UN’s SDGs seek to end poverty, protect the planet, and ensure all people can enjoy peace and prosperity by promoting inclusive, equitable, safe and sustainable societies. By continuing to use Peg to learn about Winnipeg—our progress and well-being and how we connect to the global picture—we can move toward meeting the world’s most pressing issues, together.
To browse Peg’s Winnipeg indicators tracking the economy and more, visit mypeg.ca.
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