Global economic growth has been weaker than expected in 2002. Although most countries are likely to see positive growth this year, the strong recovery that was expected, particularly in the second half of 2002, has been delayed until 2003. The Canadian economy has been leading the G7 countries in employment growth and industrial production this year. The rapid start-up of oil production from Terra Nova, along with a jump in output from Hibernia, has provided a big boost to GDP growth in Newfoundland and Labrador this year: the province should lead the country with growth in excess of 8%. The economic outlook and the role of key sectors in the other Atlantic provinces are also addressed in this issue.