The Conference Board of Canada says outlook rosy for Nunavut and Yukon, but N.W.T. in for a bumpy ride
Economic growth in the territories will outpace the rest of Canada over the next two years, driven by the strength of the mining sector in Yukon and Nunavut, according to the latest forecast from the Conference Board of Canada.
Yukon, the Northwest Territories and Nunavut are forecast to experience combined growth rates of 5.3 per cent in 2019 and 4.4 per cent in 2020, the independent research organization said in its summer territorial outlook, released on Wednesday. That’s compared with 1.5 per cent and 2 per cent across Canada’s 10 provinces.
“The near-term outlook is actually quite positive if we combine all three territories,” said Marie-Christine Bernard, director of forecasting for the Conference Board of Canada. “When you have a positive environment for mining, it generally also has positive effects in other areas of the economy.” Continue Reading →