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New Brunswick : Office Snapshot - Q1 2013

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New Brunswick : Office Snapshot - Q1 2013

According to the recent release of Statistics Canada’s P&PI Survey, there is no indication of improvement in the private investment sector for New Brunswick in 2013; however, TD Bank Economics state that they expect Canada’s overall economy to gradually shift into high gear. There is no question that New Brunswick’s economy has struggled in 2012 as Real GDP growth is projected to come in at 1.2%. In addition, New Brunswick witnessed minimal employment growth in 2012 as the annual employment rate for the year was 10.2% - 0.6 percentage points higher than 2011. This proves to be the highest unemployment rate recorded in New Brunswick since mid-2003. The P&PI Survey also shows that nearly three-quarters of the 6.4% decline in non-residential capital spending resulted from capital outlay reductions in the utilities industry.

Source : Cushman & Wakefield

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