A new report says Newfoundland and Labrador will lead Canada’s economic growth this year, while Ontario is set to lag.
Signal49 Research says Newfoundland and Labrador will lead the country in growth for a second consecutive year, driven by higher oil prices. GDP is expected to grow by 3.7 per cent in 2026.
The economy in most other provinces will expand by about 1.5 per cent, but Ontario and Quebec will expand by less than one per cent as they have been hardest hit by the tariffs.
Countering the positive aspects of the economy in Newfoundland and Labrador says Richard Forbes, lead researcher, are headwinds from a relatively older population and weak migration trends.
Signal49 Research bills itself as the country’s leading independent research organization, having been in existence for over 70 years.
