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.
Provincial Outlook Economic Forecast: Nova Scotia—Summer 2017
Provincial Outlook Economic Forecast: Nova Scotia—Summer 2017
Provincial Economic Analysis
$675.00
- Nova Scotia’s economy is among the weakest in Canada. Real GDP growth of just 0.2 per cent is expected for this year and 1.2 per cent for next year.
- Employment growth, despite improving economic conditions, will be limited over the medium term due to stagnant labour force growth.
- Business investment is set to decline next year as work on the Halifax Convention Centre and the Maritime Link Transmission Project come to an end.
- The primary sector is contributing very little to economic growth as offshore natural gas reserves dwindle. Growth in the industrial sector is due mainly to shipbuilding in Halifax.
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