Demographic pressures weigh on future prospects
Newfoundland and Labrador’s economy held steady through the first half of the year, despite facing challenges from trade disruptions, newly imposed tariffs, and weak population gains. Real GDP is projected to expand by 2.2 per cent in 2025, just slightly lower than the 2.4 per cent recorded last year, marking the first stretch of back-to-back year of growth since 2017.
What will the job market look like in 2026? What will continue to be a drag on the outlook, limiting labour force expansion and dampening household consumption? Will overall investment expand or contract, and in what sectors? And what is the main source of strength over the outlook, even as trade frictions with the U.S. and China persist?
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