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Newfoundland and Labrador Economic Forecast

The Conference Board of Canada’s Economic Trends Division is recognized worldwide for its expertise in economic forecasting, modelling and analysis. We have produced accurate economic forecasts for more than 25 years.

We examine the economic outlook for Newfoundland and Labrador, including gross domestic product (GDP), output by industry, housing, demographics and trade and labour market conditions.

The Provincial Outlook is updated quarterly using the Conference Board’s large econometric model of the provincial economies.

Five-year forecasts with up to 50 years of history for more than 210 indicators are available for Newfoundland and Labrador. The indicators are updated four times a year.

What Data Do We Forecast?

Key Economic Indicators: Newfoundland and Labrador
Gross Domestic Product at Market Prices,Newfoundland and Labrador Millions $
Gross Domestic Product at Market Prices,Newfoundland and Labrador Millions, Chained $ 2007
Gross Domestic Product at Basic Prices, Newfoundland and Labrador Millions, Chained $ 2007
Implicit Price Deflator: G.D.P at Market Price, Newfoundland and Labrador Index, 2007=1.00
Consumer Price Index, Newfoundland and Labrador 2002=1.0
Wages & Salaries Per Employee, Newfoundland and Labrador Thousands $
Primary household income , Newfoundland and Labrador Millions $
Household disposable income , Newfoundland and Labrador Millions $
Population of Labour Force Age , Newfoundland and Labrador Thousands
Labour Force , Newfoundland and Labrador Thousands
Employment, Newfoundland and Labrador Thousands
Unemployment Rate, Newfoundland and Labrador %
Retail Sales , Newfoundland and Labrador Millions $
Housing Starts , Newfoundland and Labrador Number of units
 
GDP at Basic Prices by Industry (Millions, Chained $ 2007)
GDP at Basic Prices by Industry, Crop and animal production , Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Forestry and Logging , Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Support activities for agriculture & forestry, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Fishing, hunting and trapping, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Mining and oil and gas extraction, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Manufacturing, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Construction, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Utilities, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Goods-Producing Industries, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Transportation & Warehousing, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Information & Culture Industries, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Wholesale & Retail Trade, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Finance and insurance, real estate and renting and leasing and management of companies and enterprises, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Commercial Services, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Non-Commercial Services, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Public administration , Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, Service-Producing Industries, Newfoundland and Labrador Millions, Chained $ 2007
GDP at Basic Prices by Industry, All Industries, Newfoundland and Labrador Millions, Chained $ 2007
 
Labour Market ('000)
Employment, Newfoundland and Labrador, Agriculture Thousands
Employment, Newfoundland and Labrador, Other Primary Industries Thousands
Employment, Newfoundland and Labrador, Utilities Thousands
Employment, Newfoundland and Labrador, Manufacturing Thousands
Employment, Newfoundland and Labrador, Construction Thousands
Employment, Newfoundland and Labrador, Wholesale and Retail Trade Thousands
Employment, Newfoundland and Labrador, Transportation and Warehousing Thousands
Employment, Newfoundland and Labrador, Finance, Insurance, Real Estate Thousands
Employment, Newfoundland and Labrador, Other Commercial Services Industries Thousands
Employment, Newfoundland and Labrador, Education & Health Industries Thousands
Employment, Newfoundland and Labrador, Public Administration Thousands
Employment, Education, Newfoundland and Labrador Thousands
Employment, Health & Social Services, Newfoundland and Labrador Thousands
Employment, Newfoundland and Labrador, Total Thousands
Unemployed, Newfoundland and Labrador Thousands
Participation Rate, Newfoundland and Labrador %
 
Demography ('000)
Total Population, Newfoundland and Labrador Thousands
Net Provincial Migration, Newfoundland and Labrador Thousands
Inter-provincial In-migration, Newfoundland and Labrador Thousands
Inter-provincial Out-migration, Newfoundland and Labrador Thousands
Net International Migration, Newfoundland and Labrador Thousands
Natural Rate of Population Increase, Newfoundland and Labrador Thousands
   
Final consumption expenditure (Millions $)  
Final consumption expenditure, Newfoundland and Labrador Millions $
Household final consumption expenditure, Newfoundland and Labrador Millions $
Household final consumption expenditure: Goods, Newfoundland and Labrador Millions $
Household final consumption expenditure: Durable Goods, Newfoundland and Labrador Millions $
Household final consumption expenditure: Semi-durable Goods, Newfoundland and Labrador Millions $
Household final consumption expenditure: Non-durable Goods, Newfoundland and Labrador Millions $
Household final consumption expenditure: Services, Newfoundland and Labrador Millions $
Household final consumption expenditure: Services: Services related to dwelling and property (including rental and imputed rent), Newfoundland and Labrador Millions $
Household final consumption expenditure: Services: Other Services, Newfoundland and Labrador Millions $
Non-profit institutions serving households' final consumption expenditure, Newfoundland and Labrador Millions $
General governments final consumption expenditure, Newfoundland and Labrador Millions $
   
Gross fixed capital formation (Millions $)  
Gross fixed capital formation, Newfoundland and Labrador Millions $
Gross fixed capital formation: Business, Newfoundland and Labrador Millions $
Gross fixed capital formation: Business - Residential Structures, Newfoundland and Labrador Millions $
Gross fixed capital formation: Business - Non-Residential Structures, Newfoundland and Labrador Millions $
Gross fixed capital formation: Business - Machinery and equipment, Newfoundland and Labrador Millions $
Gross fixed capital formation: Business - Intellectual property products, Newfoundland and Labrador Millions $
Gross fixed capital formation, Non-profit institutions serving households, Newfoundland and Labrador Millions $
Gross fixed capital formation, General governments, Newfoundland and Labrador Millions $
   
Trade (Millions $)  
Investment in inventories, Newfoundland and Labrador Millions $
Exports of Goods & Services, Newfoundland and Labrador Millions $
Exports To Other Countries, Newfoundland and Labrador Millions $
Exports of Goods to Other Countries, Newfoundland and Labrador Millions $
Exports of Services to Other Countries, Newfoundland and Labrador Millions $
Exports To Other Provinces, Newfoundland and Labrador Millions $
Exports of Goods to Other Provinces, Newfoundland and Labrador Millions $
Exports of Services to Other Provinces, Newfoundland and Labrador Millions $
Net Exports, Newfoundland and Labrador Millions $
Imports of Goods & Services, Newfoundland and Labrador Millions $
Imports To Other Countries, Newfoundland and Labrador Millions $
Imports of Goods to Other Countries, Newfoundland and Labrador Millions $
Imports of Services to Other Countries, Newfoundland and Labrador Millions $
Imports To Other Provinces, Newfoundland and Labrador Millions $
Imports of Goods to Other Provinces, Newfoundland and Labrador Millions $
Imports of Services to Other Provinces, Newfoundland and Labrador Millions $
   
Final consumption expenditure (Millions, Chained $2007)  
Final consumption expenditure, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Goods, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Durable Goods, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Semi-durable Goods, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Non-durable Goods, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Services, Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Services: Services related to dwelling and property (including rental and imputed rent), Newfoundland and Labrador Millions, Chained $ 2007
Household final consumption expenditure: Services: Other Services, Newfoundland and Labrador Millions, Chained $ 2007
Non-profit institutions serving households' final consumption expenditure, Newfoundland and Labrador Millions, Chained $ 2007
General governments final consumption expenditure, Newfoundland and Labrador Millions, Chained $ 2007
   
Gross fixed capital formation (Millions, Chained $2007)  
Gross fixed capital formation, Newfoundland and Labrador Millions, Chained $ 2007
Business gross fixed capital formation, Newfoundland and Labrador Millions, Chained $ 2007
Business gross fixed capital formation, Residential Structures, Newfoundland and Labrador Millions, Chained $ 2007
Business gross fixed capital formation, Non-Residential Structures, Newfoundland and Labrador Millions, Chained $ 2007
Business gross fixed capital formation, Machinery and equipment, Newfoundland and Labrador Millions, Chained $ 2007
Business gross fixed capital formation, Intellectual property products, Newfoundland and Labrador Millions, Chained $ 2007
Gross fixed capital formation, Non-profit institutions serving households, Newfoundland and Labrador Millions, Chained $ 2007
Gross fixed capital formation, General governments, Newfoundland and Labrador Millions, Chained $ 2007
   
Trade (Millions, Chained $ 2007)  
Investment in inventories, Newfoundland and Labrador Millions, Chained $ 2007
Exports of Goods & Services, Newfoundland and Labrador Millions, Chained $ 2007
Exports To Other Countries, Newfoundland and Labrador Millions, Chained $ 2007
Exports of Goods to Other Countries, Newfoundland and Labrador Millions, Chained $ 2007
Exports of Services to Other Countries, Newfoundland and Labrador Millions, Chained $ 2007
Exports To Other Provinces, Newfoundland and Labrador Millions, Chained $ 2007
Exports of Goods to Other Provinces, Newfoundland and Labrador Millions, Chained $ 2007
Exports of Services to Other Provinces, Newfoundland and Labrador Millions, Chained $ 2007
Net Exports, Newfoundland and Labrador Millions, Chained $ 2007
Imports of Goods & Services, Newfoundland and Labrador Millions, Chained $ 2007
Imports To Other Countries, Newfoundland and Labrador Millions, Chained $ 2007
Imports of Goods to Other Countries, Newfoundland and Labrador Millions, Chained $ 2007
Imports of Services to Other Countries, Newfoundland and Labrador Millions, Chained $ 2007
Imports To Other Provinces, Newfoundland and Labrador Millions, Chained $ 2007
Imports of Goods to Other Provinces, Newfoundland and Labrador Millions, Chained $ 2007
Imports of Services to Other Provinces, Newfoundland and Labrador Millions, Chained $ 2007
   
Average Weekly Wages & Salaries Per Employee ($, Industrial Composite)  
Average Weekly Wages & Salaries Per Employee, Newfoundland and Labrador $, Industrial Composite
   
Gross domestic product, Income-based (Millions $)  
Gross domestic product, Income-based, Compensation of employees; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Compensation of employees: Wages and salaries; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Compensation of employees: Employers' social contributions; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Gross Operating Surplus; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Gross Operating Surplus: Net Operating Surplus - Corporations; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Gross Operating Surplus: Consumption of fixed capital - Corporations & General governments; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Gross mixed income; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Gross mixed income: Net mixed income; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Gross mixed income: Consumption of fixed capital - unincorporated businesses; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Taxes less subsidies on production; Newfoundland and Labrador Millions $
Gross domestic product, Income-based, Taxes less subsidies on products and imports; Newfoundland and Labrador Millions $
   
Current accounts - Households (Millions $)  
Current accounts - Households, Compensation of employees; Newfoundland and Labrador Millions $
Current accounts - Households: Non-farm Income; Newfoundland and Labrador Millions $
Current accounts - Households: Farm Income; Newfoundland and Labrador Millions $
Current accounts - Households: Rental income of households; Newfoundland and Labrador Millions $
Current accounts - Households, Net property income; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers received by households; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers received by households from non profit institutions serving households, corporations and non-residents; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers received by households from general governments, employment insurance benefits; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers received by households from general governments, social security benefits; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers received by households from general governments, other benefits benefits; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households to non profit institutions serving households; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households to corporations; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households to non-residents; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households to general governments ; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households to general governments - personal income taxes; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households to general governments - other current transfers; Newfoundland and Labrador Millions $
Current accounts - Households, Current transfers paid by households - others (to non-profit institutions serving households, corporations and non-residents); Newfoundland and Labrador Millions $
Current accounts - Households, Household net savings; Newfoundland and Labrador Millions $
Current accounts - Households, Household Savings rate; Newfoundland and Labrador %
   
Housing (Number of units)  
Housing Starts, Singles, Newfoundland and Labrador Number of units
Housing Starts, Multiples, Newfoundland and Labrador Number of units
Housing Completions, Singles, Newfoundland and Labrador Number of units
Housing Completions, Multiples, Newfoundland and Labrador Number of units
   
Real Domestic Product, Newfoundland and Labrador (Millions $ 2007)  
Real Domestic Product: Metal Ore Mining, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Non-metallic mineral mining and quarrying , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Oil and gas extraction & Coal mining , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Support activities for mining and oil and gas extraction , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Wholesale Trade, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Retail Trade, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Imputed Rent, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Other Finance and Insurance, Real Estate and Renting and Leasing and Management of Companies and Enterprises, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Professional, scientific, technical services, administrative and support, waste management and remediation services , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Professional, scientific & technical services , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Administrative and support, waste management and remediation services , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Accommodation and food services, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Arts, entertainment and recreation, Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Other services (except public administration), Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Educational Services , Newfoundland and Labrador Millions $ 2007
Real Domestic Product: Healthcare and social assistance , Newfoundland and Labrador Millions $ 2007
   
Implicit Price Indexes, Consumption Expenditures, Gross Fixed Capital Formation, Exports, Imports, Gross Domestic and Final Domestic Demand, Newfoundland and Labrador (2007=1.00)  
Implicit Price Deflator, Final consumption expenditure, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Goods, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Durable Goods, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Semi-durable Goods, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Non-durable Goods, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Services, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Services: Rent, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Household final consumption expenditure: Services: Other Services, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Non-profit institutions serving households' final consumption expenditure, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, General governments final consumption expenditure, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Gross fixed capital formation, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Business gross fixed capital formation, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Business gross fixed capital formation, Residential Structures, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Business gross fixed capital formation, Non-Residential Structures, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Business gross fixed capital formation, Machinery and equipment, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Business gross fixed capital formation, Intellectual property products, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Gross fixed capital formation, Non-profit institutions serving households, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Gross fixed capital formation, General governments, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports of Goods & Services, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports To Other Countries, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports of Goods to Other Countries, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports of Services to Other Countries, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports To Other Provinces, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports of Goods to Other Provinces, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Exports of Services to Other Provinces, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports of Goods & Services, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports To Other Countries, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports of Goods to Other Countries, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports of Services to Other Countries, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports To Other Provinces, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports of Goods to Other Provinces, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Imports of Services to Other Provinces, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Final Domestic Demand, Newfoundland and Labrador Index, 2007=1.00
Implicit Price Deflator, Final consumption expenditure, Newfoundland and Labrador Index, 2007=1.00
   
Nominal Domestic Product: Business Non-Residential Investment Spending (Millions $)  
Nominal Domestic Product: Business Non-Residential Investment Spending: Non-Energy , Newfoundland and Labrador Millions $
Nominal Domestic Product: Business Non-Residential Investment Spending: Energy , Newfoundland and Labrador Millions $

Forecasts and research often involve numerous assumptions and data sources, and are subject to inherent risks and uncertainties. This information is not intended as specific investment, accounting, legal, or tax advice.

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Provincial Forecast Model

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Economics Team

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