Robust Construction Bodes Well for Nova Scotia, Says BMO Economics



    HALIFAX, Feb. 15 /CNW/ - Robust construction spending will help offset a
downturn in manufacturing for Nova Scotia, according to a provincial outlook
report released today by BMO Financial Group.
    "Non-residential construction continues to march ahead, and should
continue next year with EnCana's $700 million Deep Panuke offshore natural gas
project," said Doug Porter, Deputy Chief Economist, BMO Capital Markets.
"Manufacturing will get a boost from a contract to maintain Canadian military
helicopters."

    Highlights of the report include:

    
    -  GDP growth for Nova Scotia is expected to dip to 1.7 per cent in 2008
       and then rise to 2.1 per cent in 2009.
    -  Unemployment rate should rise to 8.3 per cent in 2008 and 2009.
    -  Housing starts will dip to 3,200 this year and 3,000 next year.
    

    The complete report can be found at www.bmocm.com/economics.





For further information:

For further information: Media Contact: Lucie Gosselin,
lucie.gosselin@bmo.com, (514) 877-8224, Internet: www.bmo.com


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