Private investment in NL forecast to drop by 16.2%

That sucking noise is the 2007 forecast for investment in Newfoundland and Labrador from outside the province according to the National Bank of Canada.

New Brunswick leads all provinces with private sector investment growth expected to hit 15.7% during 2007. Much of this strength will come from utilities and manufacturing sector investments. Utilities are also a big factor in Prince Edward Island.

Check the chart in the .pdf linked above. Newfoundland and Labrador will see a decline in investment of 16.2%. Overall, the National Bank puts the investment slowdown in four provinces in a wider perspective that diminishes the impact on the country as a whole.

But if you are in this province, it's difficult to miss the hit, let alone take it.