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.