Provincial Outlook Economic Forecast: Newfoundland and Labrador—Autumn 2018

The Conference Board of Canada, 62 pages, December 20, 2018
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This quarterly economic forecast for the province of Newfoundland and Labrador examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

  • Newfoundland and Labrador will lead provinces in growth in 2019 with real GDP growth of 5.2 per cent.
  • The oil and gas extraction industry will grow by 18 per cent in 2019.
  • Investment will benefit over the medium term from a number of projects.
  • Employment growth will be short-lived in 2019, returning to negative growth in 2020.
  • The labour force will decline each year of the forecast as baby boomers retire and net interprovincial migration remains negative.

Table of Contents

RÉSUMÉ

EXECUTIVE SUMMARY

Newfoundland and Labrador–Crude Oil to Fuel Strongest Growth Among Provinces in 2019

  • Consumer Outlook
  • Investment Outlook
  • Government Outlook
  • Trade and Energy Outlook

Appendix A–Forecast Tables

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