Employment is up, household income is up, population is up, and inflation has eased.
The deficit and net debt is up for Newfoundland and Labrador but Finance Minister Siobhan Coady says government is meeting expectations fiscally and exceeding expectations economically. Employment is up, household income is up, population is up, and inflation has eased. However, net debt is up from the spring’s $17.8 billion to yesterday’s, $18.3 billion. The deficit has grown to $218 million from $152 million earlier this year. Real Gross Domestic Product is expected to grow by 3.3 per cent, driven by strong consumer spending. The annual unemployment rate is forecast to be at 10.5 percent – a near historical low. Inflation has declined to 2.1 per cent over the January to September period, compared to 2.6 percent nationally. Revenues have decreased by $164 million largely due a reduction in oil royalties because of lower production and a slightly lower oil price, partially offset by a lower exchange rate. Retail sales are expected to remain strong, increasing by 5.1 per cent; up from 2.8 per cent, housing starts are up significantly through the first three quarters of the year, and home sales are also above last year’s levels through September.
Explosives Disposal Unit called to the Deer Lake Airport on Monday after an unattended bag was left in the terminal
Uninsured driver in Corner Brook facing intimate partner violence charges as a result of traffic stop
Kippens man arrested for theft at a Stephenville liquor store was found with a knife on him
August 1st will from now on be known as "Corner Brook Day" but it's not a civic holiday
In less than a day last week, RCMP NL caught five drivers for dangerous driving behaviours
