Newfoundland and Labrador’s real GDP decreased by 1.8 per cent in 2022. Will there be any growth over the next three years and, if so, why? How will the province’s demographic outlook affect the labour and housing markets? Can the energy sector bounce back from the sharp decrease in oil production?
This issue briefing explores the economic outlook for Newfoundland and Labrador. We focus on the province’s GDP, employment, labour conditions, energy sector, housing, and government revenue.
Read the issue briefing to get our full analysis.
Newfoundland and Labrador snapshot
Labour markets, income, and consumption