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Economic outlook looks good for St. John's

  • Writer: News Staff
    News Staff
  • Jun 2, 2022
  • 1 min read

The economic outlook looks good for St. John's.


The city is expected to grow this year as the economic recovery continues from the COVID-19 shutdowns.


The number of housing starts is expected to increase by about 6.7% to 580 units this year. This would be a 20.9% increase compared to pre-pandemic levels in 2019.


Real Gross Domestic Product is expected to rise by approximately 1.5%. Employment is expected to increase by 2.5%.


“This report gives us a better sense of how the local economy will improve throughout 2022,” says Mayor Danny Breen, Council Lead for Economic Development.


 
 
 

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