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.
Government announces $1.2M for Sport NL
Stephenville Ground Search and Rescue helps lost atv operator and passenger who spent the night in the woods
NL Association of Realtors presents 3rd annual "Concert in the Park" in Corner Brook today
Corner Brook RNC looking to speak to two males in a white Ford pickup who may have spoken to Edward Hicks
2026 NL Games continues in Corner Brook with more people expected here tomorrow
