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Economic Research and Analysis
 
 
Selected Economic Indicators 
Newfoundland and Labrador: 1998 - 2011
Forecast  Assumptions

1998 1999 2000 2001 2002 2003 2004 2005 2006* 2007e* 2008f 2009f 2010f 2011f
GDP ($m) 11,176 12,184 13,922 14,179 16,457 18,119 19,302 21,496 23,655 27,090 28,059 27,518 26,147 27,354
% change 6.1 9.0 14.3 1.8 16.1 10.1 6.5 11.4 10.0 14.5 3.6 -1.9 -5.0 4.6
GDP ($m chained 2002) 12,631 13,323 14,013 14,233 16,457 17,419 17,117 17,159 17,719 19,119 18,736 19,430 18,886 19,471
% change 5.4 5.5 5.2 1.6 15.6 5.8 -1.7 0.2 3.3 7.9 -2.0 3.7 -2.8 3.1
Personal Income ($m) 10,239 10,651 11,122 11,576 11,927 12,436 12,827 13,277 13,814 14,405 15,110 15,840 16,674 17,441
% change 2.8 4.0 4.4 4.1 3.0 4.3 3.1 3.5 4.0 4.3 4.9 4.8 5.3 4.6
% change real 2.5 2.6 1.4 2.9 0.7 1.3 1.3 0.8 2.2 2.8 2.8 2.3 2.7 2.4
Retail Trade ($m) 4,102 4,433 4,760 5,201 5,407 5,736 5,755 5,826 6,042 6,616 7,048 7,369 7,718 8,044
% change 3.7 8.1 7.4 9.3 4.0 6.1 0.3 1.2 3.7 9.5 6.5 4.5 4.7 4.2
% change real 4.6 6.7 3.6 8.9 3.3 4.4 -1.8 -2.1 1.5 8.5 6.2 3.0 3.2 3.2
Capital Investment ($m) 2,825 3,611 3,399 3,371 3,361 3,712 4,243 4,576 4,359 4,040 4,648 5,115 5,336 5,900
% change 1.3 27.8 -5.8 -0.8 -0.3 10.4 14.3 7.8 -4.7 -7.3 15.0 10.1 4.3 10.6
% change real -1.4 27.1 -7.9 -1.4 -2.0 9.0 11.4 6.8 -5.5 -10.2 12.5 4.2 1.8 7.1
Labour Force (000s) 234.3 241.9 237.8 242.7 248.5 254.1 254.3 252.5 253.1 251.2 251.7 252.9 254.7 256.6
% change 1.5 3.2 -1.7 2.1 2.4 2.3 0.1 -0.7 0.2 -0.8 0.2 0.5 0.7 0.7
Employment (000s) 192.4 201.0 198.0 203.8 207.2 212.3 214.3 214.1 215.7 217.1 220.4 222.9 226.0 229.1
% change 2.2 4.5 -1.5 2.9 1.7 2.5 0.9 -0.1 0.7 0.6 1.5 1.1 1.4 1.4
Unemployment Rate (%) 17.9 16.9 16.7 16.1 16.7 16.5 15.7 15.2 14.8 13.6 12.4 11.9 11.3 10.7
CPI (2002=100) 92.5 93.8 96.6 97.7 100.0 102.9 104.8 107.6 109.5 111.1 113.3 116.1 119.0 121.6
% change 0.2 1.4 3.0 1.1 2.4 2.9 1.8 2.7 1.8 1.5 2.0 2.5 2.5 2.2
Housing Starts 1,450 1,371 1,459 1,788 2,419 2,692 2,870 2,498 2,234 2,649 2,657 2,552 2,516 2,486
% change -14.5 -5.4 6.4 22.5 35.3 11.3 6.6 -13.0 -10.6 18.6 0.3 -3.9 -1.4 -1.2

GDP: Gross Domestic Product at market prices
CPI: Consumer Price Index
Source: Statistics Canada; CMHC;  Economics and Statistics Branch, Department of Finance
e: estimate, f: forecast, Department of Finance (April 2008).
* The estimates of nominal GDP and personal income exclude the provincial government's special payments to public sector pension plans in 2006 and 2007. As a result, these figures differ from Statistics Canada's 2006 and 2007 estimates.

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