Ottawa think tank predicts rosy growth for Atlantic provinces – especially PEI GlobeBC
Brian McInnis/The Canadian Press
P.E.I.’s red-hot growth is credited to a boom in residential construction following an “influx of international migrants” and higher demand for Island products.“Over the next two years, the Island should outpace nearly every other province in the country when it comes to its rate of population growth. Consequently, the construction industry is set to surge this year, thanks to new housing developments on the Island,” the Conference Board said in its latest provincial outlook released Wednesday.
Newfoundland is predicted to grow by 2.7 per cent this year, but the Conference Board says oil industry volatility will mean growth of only one per cent in the province in 2020. The Conference Board predicts 1.6 per cent growth this year and another 2.1 per cent in 2020, up from 0.9 per cent last year.“Over the next two years, the province is expected to enjoy its highest economic growth in almost a decade,” the report predicted of Nova Scotia.
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