Although the pace of growth is slowing, immigration, construction, manufacturing and other sectors are helping to boost GDP as the province’s largest city ...
While Moncton’s economic growth rate is slowing, it’s continuing to rise and much of that increase is being driven by a flood of immigrants who want to call Canada’s only officially bilingual city home., Moncton’s gross domestic product is expected to climb by 1.7 per cent in 2023 and another 0.6 per cent in 2024.
“This is about where we expected to be,” Silliker told New Canadian Media. “We know we are coming through a very intense growth period and there is always a little bit of a afterwards but it allows a little bit of catch-up time. We don’t really consider it a downslope. It is probably more of a levelling off kind of thing.”
After a weak 2022, Moncton’s labour market is forecast to gain about 1,360 jobs this year, an increase of 1.6 per cent, the board noted. In a May interview, Mayor Dawn Arnold said newcomers and students are choosing Moncton for the economic opportunities coupled with the benefit of short commute times, relatively affordable cost of living, and a welcoming and safe community.
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