Report indicates New Brunswick economy continues to improve18 June 2018
FREDERICTON (GNB) – An annual economic report, The New Brunswick Economy: 2017 in Review, was released today by the provincial government.
The report examines a series of economic indicators and data in the province.
“Your government is listening and we understand that growing the economy is a priority for New Brunswickers,” said Finance Minister Cathy Rogers. “By working together, we have delivered on job creation and our province is witnessing positive economic trends and successes that will position us for further economic growth.”
Some highlights from the report include:
- Real GDP increased for a fourth consecutive year, with growth of 1.9 per cent in 2017.
- New Brunswick’s population grew for the second year in a row.
- Wages and salaries continued to strengthen, rising by 3.3 per cent in 2017. This is the second consecutive year of growth greater than three per cent.
- The unemployment rate decreased for the fourth consecutive year, falling to 8.1 per cent.
- Capital investments in both the private and public sectors increased for the fourth year in a row.
- Retail trade in New Brunswick rose 6.8 per cent to $12.8 billion in 2017, the highest rate of growth since 1999.
- Provincial gains were reported in manufacturing sales, wood product sales, and mineral production.
“We know the importance of creating jobs and growing the economy,” said Rogers. “We are working hard on these priorities and are seeing positive change. Your government has a fiscal plan in place, and that plan is working.”
The report is available online.