Newfoundland, Alberta headed for recession says CIBC

Newfoundland, Alberta headed for recession says CIBC

Newfoundland, Alberta headed for recession says CIBC Alberta will dip into recession this year but it will be mild and short-lived according to a report from CIBC World Markets. The province will have GDP of negative 0.3 per cent but Newfoundland will see a deeper downturn of negative 1.3 per cent. Oil prices are responsible of course but are also helping other parts of the economy grow especially with the loonie weaker against the US dollar.