Victoria insulated ?

Victoria may not be insulated from the effect of a cold Canadian winter but according to this article, fallout from global economic woes is not being fully felt in the Capital Region. The reason ? A well diversified economy is said to be sheltering Victoria from feeling the worst effect of the financial slowdown.

The momentum in Victoria is starting to slow down, but the level of activity in Victoria is still relatively OK,” said Benjamin Tal, senior economist at CIBC World Markets. “It says to me that Victoria has been able to maintain its position for a while now without losing big momentum, and that reflects clearly it has a fairly diversified economy and is not a slave to the value of the dollar or oil prices.”

Now if we could just do something about the cold and snow we’ll be all set !

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