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: New Brunswick—2018
Provincial Outlook Long-Term Economic Forecast: New Brunswick—2018
Provincial Economic Analysis
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- Real GDP will advance at an annual average pace of 0.9 per cent between 2017 and 2040.
- The decline in the population will weigh down potential output growth and impact all areas of the economy.
- Consumer spending preferences will shift away from goods and housing and toward services.
- Our outlook for business investment in the coming decade gets a boost from the refurbishment of the Mactaquac power generating station. However, the gains will be short-lived as demand for housing falls and no other major projects are on the horizon.
- Faced with revenue shortfalls and increased spending on pension benefits and health care, governments will have to keep a tight rein on overall spending over the long term.
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