This quarterly economic forecast for the province of New Brunswick examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Economic Forecast: New Brunswick—Winter 2018
Provincial Outlook Economic Forecast: New Brunswick—Winter 2018
Provincial Economic Analysis
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- New Brunswick’s economy is expected to continue to grow over the next two years. That will make five consecutive years of economic growth.
- Immigration will temporarily grow the labour force. However, as the population ages rapidly and net interprovincial migration remains negative, no significant gains are expected in employment over the next few years.
- Construction sector output is expected to grow 1.8 per cent this year thanks to infrastructure investments by the federal and provincial governments.
- Business investment in non-residential structures is set to fall as work on upgrading the Kedgwick transmission line is completed.
- The forestry and wood products manufacturing sectors are expected to feel the impacts of tariffs on softwood lumber exports imposed by the U.S. Department of Commerce. Real exports are forecast to grow by a modest 0.9 per cent this year.
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