This quarterly economic forecast for the province of Newfoundland and Labrador examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Document Highlights
Newfoundland and Labrador will lead provinces in growth in 2019 with real GDP growth of 5.2 per cent.
The oil and gas extraction industry will grow by 18 per cent in 2019.
Investment will benefit over the medium term from a number of projects.
Employment growth will be short-lived in 2019, returning to negative growth in 2020.
The labour force will decline each year of the forecast as baby boomers retire and net interprovincial migration remains negative.
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