What Other Forecasters are
Predicting for the Province

Selected Forescasters: Real GDP Growth Diagram C-01191

As indicated in the diagram, there exists a significant divergence among forecasters concerning Newfoundland's expected economic performance in 1997. Most private sector forecasters are calling for some growth in 1997. However, the Province maintains that the economy will contract because of the winding down of Hibernia construction and ongoing government restraint. This view is supported by the CIBC. The Province expects that as the year unfolds, some convergence of the forecasts will occur.

While there are significant differences in the growth rates expected, all forecasters reviewed agree that Newfoundland will experience growth in 1998.


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