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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