Note: Paper copy only
Vol. 34, No. 3, Fall 1999
The fall edition of APEC's Atlantic Report is our economic outlook for the coming year. A healthy national economy and strong US consumer demand are contributing to a positive economic outlook for Atlantic Canada, but the major force behind anticipated growth is capital project investment. These initiatives are providing a boost to labour markets and buoying consumer and business confidence across the region.
With a slowing US economy, unsustainable levels of consumption and the threat of rising interest rates, the outlook for Atlantic Canada beyond 2000 is not as clear. Higher interest rates may cool investment activity in the region, leaving slack in the economy once current major projects run their course. Future economic growth in Atlantic Canada depends not only on sustained capital investment, but also on improving the region’s competitiveness and attracting private enterprise, especially in the context of knowledge-based growth. In order to attract sustainable growth, Atlantic Canada must look beyond its resource sectors and focus on fostering a climate in which high-productivity growth industries can flourish.