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.
Document Highlights
Real GDP is set to grow by 1 per cent per year between 2018 and 2040.
The population is aging quickly and will begin to shrink. By 2040, there will be almost 35,000 fewer people in New Brunswick.
International migration will provide a source of population growth, but it will not be enough to offset declines in the natural increase and interprovincial out-migration.
A lack of major projects in the province will severely curtail business investment once the refurbishment of the Mactaquac power generating station is finished.
Public spending will grow slowly as governments attempt to maintain fiscal discipline. But severe pressures, mainly from health care, are on the horizon.
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