This quarterly 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.
A Promising Boost From Government Pandemic Response: New Brunswick’s Two-Year Outlook—September 2020
A Promising Boost From Government Pandemic Response: New Brunswick’s Two-Year Outlook—September 2020
$705.00
- New Brunswick has been one of the most successful provinces in the country when it comes to limiting the spread of COVID-19. Consequently, the hit to employment hasn’t been as large as in other regions in Canada.
- New Brunswick typically weathers recessions better than other provinces, but it also sees slower recoveries. We are expecting these same trends to play out again over the next two years.
- Housing starts will decline this year and again in 2021. The drop next year will be due to sharply weaker population growth.
- Exports to the U.S. market should rebound in 2021, thanks to higher growth in the U.S. economy and a competitively valued loonie. However, a failure to better contain the virus could lead to weaker U.S. growth, which would hurt the province’s exporters.
- Investment in the province has declined significantly over the last 10 years. COVID-19 has reinforced this trend, as companies have pulled back on expansion plans while they focus on surviving the collapse in demand.
Effective January 26, 2026, AERIC Inc./Signal49 Research discontinued use of ‘The Conference Board of Canada’ name, logo and branding, which had been used by AERIC Inc./Signal49 Research under license from The Conference Board, Inc. The Conference Board, Inc. and its licensees, which are not affiliated with Signal49 Research, own all right, title and interest in THE CONFERENCE BOARD name and trademarks in Canada and have the exclusive right to their use in Canada since January 26, 2026.
