City of Montreal

City of Montreal

May 12, 2005 10:28 ET

Publication of 2004 Economic Report: Montreal's Economy Is Improving

MONTREAL, QUEBEC--(CCNMatthews - May 12, 2005) -The City of Montreal's Service de la mise en valeur du territoire et du patrimoine of the Direction de la planification strategique has released the city's economic report for 2004.

The City of Montreal's new publication, Bilan economique 2004, clearly states that the economy is improving as reflected by comparisons with 2003 economic indicators. For example:

- the employment rate reached a historic high, increasing by 0.5%;
- the unemployment rate dropped by 1.3% and the number of social
welfare recipients decreased by 3.2%;
- capital investments increased by 2.1%;
- the number of construction permits that were issued rose by 16%;
- the number of new housing that were under construction increased
by 42%;
- the city's population grew slightly by 0.3%, buoyed by the arrival
of recent immigrants and showing a positive net migration, allowing
the city to maintain its demographic weight throughout the
metropolitan area.
- Montreal's airports registered a record year with an increase of
15.7% as the number of passengers surpassed 10 million;
- In transportation, 2004 was an excellent year for the Port of
Montreal and the city's airports. The Port of Montreal reported its
best results in 20 years in terms of a 13,7 % increase in the
quantity of goods that were handled while the number of ship
passengers increased by 29.8%.

"Our administration is extremely pleased with these results, which illustrate the ability of both the city of Montreal and the greater metropolitan region to take advantage of certain economic opportunities," said Alan DeSousa, member of the city's executive committee responsible for economic development.

In the coming years, the economic review will develop into an operating report to help formulate the economic development strategy and action plan that the City of Montreal will soon be making public.

The city's economic report is available on the city of Montreal's web-site at

Contact Information

  • Information:
    Darren Becker
    (514) 872-6412
    Danielle Dionne
    (514) 872-6063