• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

N.L. to enjoy fastest-growing economy thanks to oil production: report

December 12, 20189:50 AM The Canadian Press0 Comments

A dramatic economic turnaround is being predicted for Newfoundland and Labrador next year.

The Conference Board of Canada says it is expected to lead the provinces in economic growth, thanks to offshore oil royalties.

Just a year after having the weakest economic outlook in 2018, the province’s real GDP is expected to grow by 5.2 per cent in 2019.

Prince Edward Island and British Columbia are also expected to see strong growth of 2.7 per cent next year, with P.E.I. benefiting from steady immigration and a booming tourism industry.

Alberta’s domestic economy has picked up and GDP is set to grow 2.2 per cent in 2019 but uncertainty in the province’s own oil sector around prices and transportation could result in lower-than-projected growth.

Other provinces are expected to see slower economic growth of below 2 per cent in 2019, with Nova Scotia and New Brunswick forecast to see 1 per cent and 1.3 per cent growth, respectively.

Quebec and Ontario’s economies are slowing down but both are predicted to grow by just under 2 per cent, according to the report.

Saskatchewan will see predicted modest growth of 1.6 per cent, and Manitoba about 1.9 per cent.

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Discount on Western Canada Select widens
  • European Commission proposes Russian oil price cap 15% below global price
  • US oil/gas rig count down for 11th week to lowest since 2021, Baker Hughes says
  • Taiwan’s CPC Corp eyes US shale gas assets, sources say
  • Saudi Arabia complying fully with voluntary OPEC+ target, energy ministry says

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.