Revving Up: Economy Poised for Growth: Newfoundland and Labrador’s Five-Year Outlook—July 2024

Revving Up: Economy Poised for Growth: Newfoundland and Labrador’s Five-Year Outlook—July 2024

Provincial
11 min read

Author: Meghan Eibner

$705.00

This quarterly economic briefing forecasts economic trends for Newfoundland and Labrador over the medium term. It examines consumer spending, population growth, labour markets, and investment in key industries. For an overview of all major components of the economy, go to the Canadian Outlook main page.

 

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This quarter, we look at the effects of demographic and labour market dynamics, industry and government investment, and strengthening export markets on Newfoundland and Labrador’s economic outlook.

As optimism emerges with the economy beginning to expand in the province, what will be the main driver of employment gains? How will slowing population growth impact the labour market, residential construction, and consumer spending? Will projected rebounds in the mining and oil and gas sectors be enough to offset the sharp drop in recent years? We share our forecast for Newfoundland and Labrador’s economy, including GDP and business and government investment.

Read the online experience to get our full analysis.

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