At the provincial year-end financial overview, Finance Minister Tom Marshall emphasized that Newfoundland & Labrador led all provinces in GDP and capital investment growth in 2013. The projected provincial deficit was downsized as a result of lower overall anticipated expenditures rather than increased revenue. Bond rating agencies responded positively, with Dominion confirming the province’s credit rating at A, and Standard & Poor’s affirmed the credit rating at A+. Newfoundland and Labrador ranks second in the country for growth in retail sales – with new car sales in 2013 reaching the highest number ever recorded for the province.
Source : Cushman & Wakefield