Major City Insights: St. John’s—August 2023

St. Johns Harbour, St. Johns, Canada

Major City Insights: St. John’s—August 2023

20 min read

Author: The Conference Board of Canada


This publication focuses on the St. John’s metropolitan economy.

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This quarter, we look at the impact of higher interest rates and the delayed rebound in offshore oil production on the St. John’s economy.

How will the delay in returning the Terra Nova oil platform to production, coupled with expected declines in oil production due to scheduled maintenance, affect economic growth in St. John’s this year? And to what extent will high interest rates, sticky prices, and slowing wage growth reduce consumer purchasing power? We share our outlook for the St. John’s economy, including output, employment, and population growth.

Read the online experience to get our full analysis.

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