12 March 2007

Newfoundland's hope goes west

From MSNBC and the Financial Times, no less, comes this discussion of the province's looming economic downturn.
The Conference Board of Canada reported last month that Newfoundland and Labrador's economy will expand this year by 5 per cent, up from 1.8 per cent last year, boasting the highest economic growth of any Canadian province this year. However, that growth is expected to end this year, slowing to just 0.4 per cent in 2008 as oil production drops off.
Some minor details are wrong, but fundamentally, the province is being branded as on the decline.

In fact, the story is so clear that Andy Wells looks like a total lunatic when he speaks of the province being at the beginning of a growth cycle.

No amount of advertising and no supply of trade shows can undo the negatives this piece portrays. Then again, the provincial government has actively courted the image of being the place where things aren't happening.