Unpacking GDP and Culture in New Brunswick
Opinion: Why do the province’s numbers lag behind most of Canada?
Opinion: Why do the province’s numbers lag behind most of Canada?
The country’s GDP climbed just 0.1 per cent, following a 0.6 per cent increase in January
Opinion: If you don’t have economic growth and you want to significantly expand public spending, you will need to squeeze out more taxes as a share of the total economy, either by raising tax rates or some other means. Or, you can run deficits in perpetuity.
Statistics Canada said Friday that the country’s real GDP rose 0.5 per cent in January. That followed a slight 0.1 per cent contraction the economy recorded in December.
One of the authors of a large study on office vacancies across New Brunswick’s three largest cities breaks down the forces behind rising office vacancy rates.
Real GDP grew by 0.1 percent, similar to the growth the nation’s economy went through over the last three months. Goods-producing industries led that growth, while services-producing industries were essentially unchanged.
The port expansion comes as New Brunswick faces the daunting task of filling an estimated 120,000 job openings over the next decade. And the province’s deputy labour minister warns there will soon be more non-workers than workers if steps are not taken.
The Halifax Partnership is starting the process of creating a five-year economic plan for the city. CEO Wendy Luther says there are several reasons to be optimistic about a strong economic recovery.
Among the hardest-hit by physical distancing and government restrictions are the travel- and tourism-related industries, including personal transportation, restaurants and accommodation.