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Calculations for 2012 are still in the final stages but it is forecasted that Real GDP will rest at 1.1% for the province. While economic growth in 2012 unfolded weaker than expected for Nova Scotia, the outlook for 2013 is looking more positive with projected growth of 1.9% in Real GDP. Natural gas production at Deep Panuke is commencing mid-year 2013 and the reawakening of the Sable Offshore project is anticipated to bring significant revival to this sector. Gains from the preliminary shipbuilding contract will be modest through 2013. According to RBC Economics and Statistics Canada, a survey of capital spending intentions indicated an increase of $58 million in planned expenditures, which includes the shipbuilding contract, for this year.
Source : Cushman & Wakefield
