P.E.I. forecast to lead country in economic growth
Exports expected to be strong for the Maritimes in 2019
Prince Edward Island will be the only province in Canada with economic growth that will exceed three per cent in 2019, according to a new report from the Conference Board of Canada.
Growth of GDP on the Island is expected to be 3.2 per cent. Nationally, the Conference Board projects 1.9 per cent growth.
The report credits "an influx of international migrants supporting strong growth in residential construction and elevated demand for P.E.I. products boosting exports and manufacturing."
Alberta is at the bottom of the growth chart, at 1.3 per cent, with its economy hampered by cuts in oil production.
Nova Scotia and New Brunswick are expected to recover from a poor year in 2018, during which growth in both provinces was below 0.5 per cent. Export growth in those two provinces is expected to help grow the economy 1.4 per cent in New Brunswick and 1.6 per cent in Nova Scotia.