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—Summer 2017
Provincial Outlook Economic Forecast: New Brunswick—Summer 2017
Provincial Economic Analysis
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- New Brunswick’s real GDP growth is forecast to reach 1.5 per cent this year and 1.1 per cent in 2018.
- Employment growth will be limited as the province’s labour force is declining.
- Apart from health care spending, the provincial government is not increasing its spending in other areas as it works to balance the budget by 2020–21.
- Public infrastructure projects are helping to brighten the economic outlook.
- Exports are supported by demand for wood products in the United States. Further contributing to export growth is the growing demand from Asia for seafood products.
- The primary sector is expected to face improving conditions next year.
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