Steady Growth in 2025 Masks Deeper Economic Strain
This online experience examines the five-year outlook for Newfoundland and Labrador. Real output is expected to grow by 1.2 per cent in 2025, lower than last year’s 2.4 per cent, as the province posts two years of consecutive output growth for the first time since 2017. Population dynamics will nonetheless weigh heavily on the economy, draining growth in the labour force and household consumption.
How much will slowing wage gains and a cooling job market constrain households’ ability to spend? Will oil and gas and green hydrogen projects provide a boost to the economy? What is the outlook for residential investments over the forecast period? And what will the demand be for key exports, including oil and gas, seafood, and food manufacturing?
Read the online experience to get our full analysis.
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