This annual economic forecast for the province of Prince Edward Island 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: Prince Edward Island—2020
Provincial Outlook Long-Term Economic Forecast: Prince Edward Island—2020
Provincial Economic Analysis
$705.00
Please note that this forecast was prepared before COVID 19 dramatically changed the near term economic outlook.
- Economic growth in Prince Edward Island will outpace the national growth rate over the long term as the province undergoes a population boom, thanks to a sustained wave of international migration.
- P.E.I.’s demographics will have a positive impact on housing and household consumption.
- As in the rest of the country, population aging will limit potential growth. However, compared to its Atlantic neighbours, P.E.I.’s population will age at a considerably slower pace.
- The greying of the population will lead to higher demand for health care and social services, pinching Island finances.
- Despite the challenges, the long-term outlook for P.E.I. is bright.
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