Steady but Slow: Growth Amid Ongoing Trials
In this quarterly report, we examine the five-year economic outlook for Nova Scotia. Real GDP is forecast to rise by only 1.0 per cent, much lower than last year’s 2.7 per cent growth. Overall, real GDP will hover around 1.4 per cent from 2026 onward, lower than the national growth of 2.1 per cent.
With the economic growth in Nova Scotia continuing muted, what forces represent the most dire headwinds to further expansion? Are tariffs proving to be as punishing for the province as initially projected, and how is business investment and government spending playing into the picture? What sectors are positioned to boost Nova Scotia’s exports, and what impact will population dynamics have on real GDP growth? We share our forecast for Nova Scotia’s economy, including GDP and labour market dynamics.
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