Moderate growth forecast for Atlantic provinces
The report estimates little job growth in the four Atlantic provinces so consumer spending is likely to lead the way
ST. JOHN’S, N.L.—The Atlantic Provinces Economic Council, a Halifax-based think-tank, says a strengthening U.S. economy and a lower exchange rate next year should fuel moderate growth of Atlantic Canadian exports in 2015.
Nova Scotia is expected to lead the pack, with gross domestic project forecast to grow about 1.9 per cent as spending ramps up for the shipbuilding contract.
In New Brunswick, the report says government capital spending is expected to contribute to growth of 1.7 per cent.
Growth in Newfoundland and Labrador and P.E.I. is predicted at 1.5 and 1.4 per cent, respectively.
The council’s report says little job growth is expected in the four Atlantic provinces so consumer spending is likely to continue at a modest pace.
It also says housing starts are expected to remain sluggish.