This annual economic forecast for the province of Newfoundland and Labrador examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Long-Term Economic Forecast for Newfoundland and Labrador: 2015
Provincial Outlook Long-Term Economic Forecast for Newfoundland and Labrador: 2015
Provincial Economic Analysis
$635.00
- The development of offshore oil projects will be a primary driver of economic growth.
- Declining population will inhibit economic growth in the province over the long term.
- Manufacturing will get a boost from Vale’s nickel processing facility at Long Harbour over the medium term.
- An aging population and the need for infrastructure spending will put pressure on the provincial budget.
- Housing starts will fall during the entire forecast period, along with residential investment.
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