The capital city is expected to have the fastest real gross domestic product growth of any major Canadian metropolitan area this year.
That’s according to the St. John’s Economic Outlook 2019, released today.
It reports that economic growth in the metro area is expected to improve in 2019 with real GDP forecast to grow by 7.1 per cent, largely due to increased capital investment in the West White Rose offshore oil development and Voisey’s Bay.
Retail trade is also expected to increase, growing by 1.1 per cent to reach almost $4-billion.