This edition of Atlantic Report includes our 2013 forecasts for all four Atlantic Provinces.
With the global economic recovery remaining fragile, the Atlantic region will see a mixed year in 2013. Atlantic exports will benefit from increased output in key sectors but major project spending will decline. APEC's forecast assumes that the US avoids a severe fiscal contraction and that Europe manages to contain its sovereign debt crisis.
APEC expects that in 2013 income and consumer spending growth will be restrained in the Maritimes by weak job growth, while Newfoundland and Labrador will benefit from a continuation of robust wage gains. As well, provincial budget deficits will limit government spending in the 2013/2014 fiscal year.