This annual 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 Long-Term Economic Forecast: New Brunswick—2017
Provincial Outlook Long-Term Economic Forecast: New Brunswick—2017
Provincial Economic Analysis
$660.00
- Real GDP will advance at an annual average pace of 0.9 per cent between 2016 and 2040.
- The decline in the population will weigh down potential output growth and impact all areas of the economy.
- Consumer spending preferences will shift away from goods and housing in favour of services.
- The outlook for business investment is bleak, as no major projects are on the horizon. Decreasing demand for housing, related to the aging of the population, will further decrease investment.
- Faced with revenue shortfalls and increased spending on old-age security benefits and health care, governments are expected to limit spending over the long term.
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