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.
Provincial Outlook Economic Forecast: New Brunswick—Autumn 2017
Provincial Outlook Economic Forecast: New Brunswick—Autumn 2017
Provincial Economic Analysis
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- New Brunswick’s real GDP growth is forecast to be 0.8 per cent in 2018 and 1 per cent in 2019, the weakest in Canada.
- Despite higher-than-average immigration, the labour force is shrinking due to negative interprovincial migration and a rapidly aging population.
- Weak employment prospects are hurting the contribution of households to the economy. Consumption is expected to remain weak over the medium term.
- The health care and social assistance sector is projected to be the fastest growing sector of the provincial economy.
- Weak business investment will not make a large contribution to economic growth. The construction sector will be supported by public infrastructure spending in 2019.
- The primary sector will face weaker prospects in 2018.
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