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.
Provincial Outlook Economic Forecast: Newfoundland and Labrador—Winter 2017
Provincial Outlook Economic Forecast: Newfoundland and Labrador—Winter 2017
Provincial Economic Analysis
$660.00
- Non-residential business investment will fall by nearly 57 per cent in 2017 due both to weakness in manufacturing and mining sector investment and to the hand-off from an unusually high level of non-residential investment in 2016 with the import of the Hebron platform equipment.
- Labour markets will face ongoing weakness—the unemployment rate will rise above 17 per cent in 2018, and real wage and salary growth will decline, resulting in a disempowered Newfoundland and Labrador consumer.
- Fiscal austerity measures will limit government spending over the next five years as the Government of Newfoundland and Labrador attempts to slay its deficit.
- Trade and public investment will remain sources of strength for Newfoundland and Labrador.
Customers Who Downloaded This Also Liked
Require an accessible version of this research?
Upon request, The Conference Board of Canada offers accessible versions of research. Please contact us to request your accessible version.
Learn more about our accessibility policies.
