Steering Through Turbulent Waters
In this quarterly report, we examine the five-year economic outlook for New Brunswick. After real GDP growth increased by over 1.7 per cent in each of the last three years, all was set for it to gain traction in 2025. But real GDP growth for the province now faces a muted trajectory, moderating to just 0.5 per cent in 2025, the weakest in Canada.
What forces have caused this stark retraction of positivity for the outlook period? How have the tariffs and related uncertainty fed into this picture, and what industries are primarily affected? What impact will demographics and a slowdown in population growth have on spending, employment, and housing starts, and how will current levels of business and government investment affect longer-term growth? We share our forecast for New Brunswick’s economy, including GDP and labour market dynamics.
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