News

Report says Atlantic exporters should benefit from U.S. recovery in 2014

HALIFAX – The Atlantic Provinces Economic Council’s annual economic outlook says the Atlantic region should benefit from stronger demand for exports in 2014.

The report says a forecast from the International Monetary Fund predicts world growth will increase from 2.9 per cent in 2013 to 3.6 per cent in 2014.

The region’s largest customer, the U.S. market, is expected to recover with growth levels of 2.6 per cent in 2014 as fiscal restraint eases.

The council says housing starts in the U.S. are also expected to increase by about 25 per cent next year which should benefit Atlantic lumber producers.

However, the council’s report says little job growth is expected in the four Atlantic provinces so consumer spending is likely to continue at a modest pace.