Department Issues Updated Economic Outlook Report

The Department of Finance has issued an updated Nova Scotia Economic Outlook Report.

The latest issue of the report takes into account the recent Statistics Canada revisions to economic growth in the provinces. The Department of Finance notes that compared to earlier forecasts by the federal government agency, Nova Scotia's economic growth now appears to have been lower in 1996, higher in 1997 and lower in 1998. However, over the three-year period, the result is largely consistent with Nova Scotia budget forecast.

Statistics Canada now estimates the Nova Scotia economy had reached a value of $19.7 billion by the end of 1998. The Department of Finance forecast, released with the budget in October of 1999, showed a showed a value of $19.8 billion.

The outlook report is available on the department's website at:
www.gov.ns.ca/finance/publish/pub24.htm .