Future Seems Bleak For Atlantic Canada

According to the Conference Board of Canada, the cities in Atlantic Canada should prepare for a feeble economic session that is about to occur until the end of the year. Although it is expected that there will be an increase of 1.2 percent, after the rock hard gain of 2.4 percent during last year, Moncton plans to help boost the fast pace at which the economy is growing this year.

With the increase in New Brunswick, it will likely cause a scanty 0.6 percent increase in St. John’s Newfoundland. Even though Saint John seems to be expecting a shift, New Brunswick is expected to have their increase at a regular level and no more than how it is for now.

Alan Archand who is an Associate Director of the Centre for Municipal Studies and as well as The Conference Board of Canada had this to say: “The economies of Moncton and Saint John will be both hurt by declines in manufacturing and construction activity this year. St John’s economy, along with that of Newfoundland and Labrador as a whole, continues to be hit hard by weak prices for oil and other commodities.”