Light Is Beaming at the End of the Tunnel: Nova Scotia’s Two-Year Outlook

This quarterly economic forecast for the province of Nova Scotia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

Thanks to the return in demand for in-person services, Nova Scotia’s real GDP is estimated to have grown by 5.2 per cent in 2021 and will rise by 2.5 per cent in 2022.

Strength in the transportation and warehousing sector has boosted employment in Nova Scotia. Thus, along with strong growth in wages, Nova Scotians are more confident to spend post-pandemic.

Following the completion of houses under construction over the next two years, the pace of new home construction will slow down from its 2020 peak.