Newfoundland and Labrador far outstripped the national average in economic growth last year, on the strength of its oil and gas revenues, Statistics Canada reported today.
StatsCan said growth in real domestic product in five provinces and three territories was higher than the 2.7% national figure. Newfoundland’s growth was 9.1%.
The Saskatchewan economy increased 2.8%, rebounding from a drop in 2006, while in oil-rich Alberta, the economy moved ahead 3.3%, about half its 2006 growth rate.
Manitoba and British Columbia, were boosted by consumer spending, with economies rising 3.3% and 3.1% respectively.
Growth in the Northwest Territories surged 13.1%, Nunavut’s economy expanded by a record 13% and Yukon growth was up 3.8%, all driven by gold and diamonds.
Natural resources boost provincial growth: StatsCan
Five provinces, three territories outpace national economic growth
- By: IE Staff
- April 28, 2008 December 14, 2017
- 09:40