London area economics to bouce back

The London area economy is forecast to bounce back to 2.8% this year, one of the best rates in the country, says the Conference Board of Canada.
The board's annual forecast on major metropolitan areas shows that auto centres are on the rebound, with Windsor leading the nation next year with a 3.9% increase in GDP and Oshawa at 3.5%.
The report said a rebound in both manufacturing and the service sectors will boost the London-St Thomas area growth rate to 2.8%, up from 2.2% last year and a decline of 4.4% in 2009.
Unemployment is also forecast to fall below 7% this year.
The report said London's manufacturing sector had a strong rebound last year, up 6.7%, after plummeting 15.2% in 2009.
"As world economies improved last year, London's goods sector began to recover as well, with the manufacturing sector posting its first increase in five years."
The sector is expected to grow by 3.4% this year.
The report also forecasts that housing starts in the London area will post a solid gain with 2,300 starts, bucking a national trend.
In the longer term, GDP growth is expected to trend around 3% from 2012-2014 and unemployment will continue to fall gradually.