That's not really news. RBC has been saying it consistently for the past few months. Just like everyone else, including the provincial government.
The real story - as in March of this year - is that the province will be the only one in the country to experience a drop in capital investment.
On top of that the latest figures show RBC has increased their forecast capex drop for NL. it's closer to 10% now, compared to about 7.5% in March.
That's all about the absence of major construction projects in the province, like Hebron and Hibernia South. Last year's drop in capex was only about 2.5%.
Anyone wondering why the Premier is sending a positive message to potential investors after years of slagging? Take a closer look at the RBC figures. They forecast an economic situation no Premier could tolerate, especially when the means of getting out of the decline are entirely in your hands to implement.
Things can change and the tone sent by the Premier at last week's NOIA conference might just help that turn-around.
-srbp-