This annual economic forecast for the province of New Brunswick examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Long-Term Economic Forecast for New Brunswick 2014
Provincial Outlook Long-Term Economic Forecast for New Brunswick 2014
Provincial Economic Analysis
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- New Brunswick’s economy will remain weak throughoutthe forecast period. Real GDP will average 1.2 per cent annual growth from 2013 to 2035—good enough for only ninth place among the 10 provinces.
- The aging of the population and resulting increase in the death rate will offset international migration gains and cause the population to decline.
- The growing wave of retirements among the baby boomers will curb labour force growth, thus slowing down growth in potential output.
- The rise in the number of seniors will exert fiscal pressures on the provincial government’s purse at a time of limited revenue-generating capacity.
- Given the softer domestic demand, inflationary pressures are expected to remain at bay over the long term.
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