We deliver our forecast for Newfoundland and Labrador’s economy, including GDP, population growth, consumer spending, investments, and exports.
After declining in 2023, the province’s GDP increased by 2.5 per cent in 2024. What can we expect for 2025? Population growth is predicted to decline slightly over the next four years. How much has the province’s demographics contributed to this decrease? Will consumer spending remain sluggish over the duration of the forecast? Real exports will finally see growth this year after four years of decline. The reason is the strong demand for oil and gas, seafood, and food manufacturing. But will this demand continue? How have the oil and gas sector’s new oil platforms and the wind-energy projects impacted non-residential investments?
Read the online experience to get our full analysis.
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