Newfoundland and Labrador’s 20-Year Outlook—March 2025

Newfoundland and Labrador’s 20-Year Outlook—March 2025

Provincial Economic Analysis
11 min read

Author: The Conference Board of Canada

$705.00

This annual 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.

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In this annual report, we explore the impacts of Newfoundland and Labrador’s waning population growth, the prospects for the province’s consumer spending and housing markets, and the outlook for its mining and oil and gas industry.

With the province’s longer-term economic growth facing increasing challenges, what bright spots are emerging to counter these pressures? What factors are influencing continued demographic shifts, and how will real consumer spending as well as residential and non-residential investment be affected? With Canada’s move toward renewable energy, how long before the province’s oil and gas sector begins to feel the pinch? We share our outlook for Newfoundland and Labrador’s economy, including GDP and labour market dynamics.

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