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Thursday, October 13, 2011

Anemic Outlook On Provincial Economy

Don't expect robust economic growth in the province for the rest of this year and next according to the latest outlook from B-M-O Capital Markets.

Economist Robert Kavcic tells CHSJ News growth will be limited to 1.5 per cent this year and 1.4 per cent in 2012 and that will put a lid on any job growth.

He warns some major projects like the 1.7 billion dollar potash mine development in Sussex and the Point Lepreau nuclear plant refurbishment are set to wind down next year.

Kavcic adds another big reason for the sluggish performance is the continuing slowdown in the American economy where 85 per cent of exports from New Brunswick head.