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: Newfoundland and Labrador—2017
Provincial Outlook Long-Term Economic Forecast: Newfoundland and Labrador—2017
Provincial Economic Analysis
$660.00
- The offshore oil industry will continue to play a key role in the provincial economy.
- A declining population will constrain potential output over the long term.
- Manufacturing will get a boost from processing nickel concentrate and from the comprehensive free trade agreement between Canada and the European Union.
- An aging population and the need for infrastructure spending will put pressure on the provincial budget.
- Housing starts will fall throughout the forecast period.
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