Finance Minister Tom Osborne says despite the one per cent drop, the province is in good shape when it comes to GDP growth.

In the fall fiscal update, Gross Domestic Product growth dropped by one per cent from 4.1 per cent to 3.1 per cent, with projections to decrease to 2.6 per cent in 2020.

Tom Osborne says at 3.1 per cent, it is disappointing that it’s down, but it is still a leader in the country.

He says while they would’ve liked to see the GDP growth at over four per cent, many province’s in the country would like to see theirs at three per cent, and therefore, Newfoundland and Labrador is in good shape.