The latest outlook from the Atlantic Provinces Economic Council is forecasting modest economic growth for the region next year. It’s predicting economic growth of just .9 per cent in New Brunswick for 2016.
APEC also warning the new reality could be slower growth because of minimal population growth in Atlantic Canada and an aging workforce both of which will lead to slower consumer demand.
Senior Economist David Chaundy says businesses can respond to this ‘slower for longer’ environment by going after new opportunities in larger and faster growing national or international markets or by seeking local acquisitions to consolidate their market position and maximizing their economies of scale.
