The Atlantic Provinces Economic Council is out with its economic look ahead to 2040 and not surprisingly it shows continued difficulties in future population and economic growth for Newfoundland and Labrador.

APEC projects overall economic growth in Atlantic Canada will continue to be moderate, averaging about 1 per cent per year by 2040. That’s below the national pace of 1.8 per cent.

Demographics continue to be problematic for the region. More people in Atlantic Canada are dying than being born, which means the population will continue to shrink without net in-migration.

APEC says to sustain modest economic growth, the region will need to maintain net in-migration or experience a boost in productivity through investment in technology.

According to APEC, Newfoundland and Labrador’s economic growth will be the lowest, and its population growth the slowest – with little to no change – than any other province in the region. PEI meanwhile, is expected to remain the region’s growth leader.

Read the article on VOCM here.