Population to Shrink for the First Time in Decade
Nova Scotia’s real GDP will expand by 1.1 per cent in 2026, before increasing by 1.3 per cent in 2027 and 1.5 per cent in 2028. Output gains will reach 1.7 per cent annually in 2029 and 2030.
What is the expectation for the province’s population growth from now until 2030? Will international migration continue to be the primary driver of population growth over the forecast period? Will limited labour supply growth continue to tighten the province’s labour market and lower the unemployment rate? What does the picture look like for business and non-residential investment? And what will prop up the Nova Scotia economy in the present but cost the province down the road as interest costs add up?
Read the online experience for more details on the outlook for Nova Scotia.
