242 - Atlantic Outlook 2011
Close to two years since the official end to the downturn, we're still seeing its effects on the Atlantic economy. Growth has returned to the region, but the pace is modest and uneven. The infusion and then withdrawal of government stimulus made 2010 a trying year for businesses attempting to plan. This year is going to be steadier, but apart from the energy sector, overall growth is expected to be only modest.
Forecasters see growth in Newfoundland and Labrador's economy topping 3.5% in 2011. Businesses in the rest of the Atlantic region are likely to see overall economic growth of roughly 2% - better than 2010, but still slower than pre-recession rates.
The US economy is expected to improve, but not at a rapid pace for the foreseeable future.Businesses will also have to adjust to fewer young people entering the labour force and a persistently high Canadian dollar. More than ever, therefore, most of the Atlantic economy is going to depend on the inventiveness and energy of the independent business community.
