Conference Board : Economic Insights into the Maritime Provinces

[ErickMontreal]

Metropolitan Outlook 2: Economic Insights into 27 Canadian Metropolitan Economies: Winter 2008

• Halifax’s economy will grow by 2.8 per cent in 2008, helped by ongoing strength in the services sector.
  
• Real GDP will rise by only 1.9 per cent in St. John’s this year, now that offshore oil production has peaked.
  
• Falling construction output will limit Saint John’s overall economic growth to 1.6 per cent in 2008.

The Atlantic Canadian CMAs of St. John's and Saint John enjoyed banneryears in 2007, with the Newfoundland and Labrador capital ranking firstoverall by achieving economic growth of 7.7 per cent. In 2008, growth willslip back to 1.9 per cent. All the while, overall growth is forecast to comein at 1.6 per cent in Saint John. Halifax-will each post growth of2.8 per cent in 2008.

[Alberta Bound]

Saint John almost doubled their 2007 forecast. Lets hope for a repeat

[someone123]

Originally Posted by Alberta Bound

Saint John almost doubled their 2007 forecast. Lets hope for a repeat

I wonder how accurate these predictions actually are?

The other fun fact is that they are all slightly different so you can just about always find one that says whatever you want.

[PostModernPrometheus]

wonder how accurate these predictions actually are?

If done in retrospect, 100%. If done prospectively......somewhere in the same ball park as weather forecasts (if a weather forecast 4 days from now is frequently wrong, then how accurate can complicated economic predictions for the next YEAR be??!??!)


The other fun fact is that they are all slightly different so you can just about always find one that says whatever you want.


True....65% of people know that 48% of statistics will support your position 71% of the time.....

[Deepstar]

It seems bizarre tha a province can have 7.7% growth and then slip back to 1.9%. Did I read that correctly?

[someone123]

7.7% is the growth rate for St. John's, and there's nothing particularly abnormal about the fluctuation. St. John's is a small city and its economic growth is driven largely by offshore projects

Saint John is similar.