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—Spring 2018
Provincial Outlook Economic Forecast: New Brunswick—Spring 2018
Provincial Economic Analysis
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- New Brunswick’s economy is expected to continue to grow over the next two years, making five consecutive years of economic growth.
- Immigration will temporarily increase the labour force. However, negative interprovincial migration remains a substantial impediment to population growth. No significant gains are projected in employment over the next two years.
- NB Power projects help to brighten the outlook for business investment.
- The province’s trade outlook is very uncertain, given the climate surrounding the North American Free Trade Agreement (NAFTA).
- Many large companies, including WestJet and Toronto Dominion Bank (TD), are setting up business centres in the province, contributing to growth in commercial services.
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