May 26, 2000
For immediate release
Quarterly Economic Overview of Prince Edward Island
The Quarterly Economic Overview of Prince Edward Island examines the P.E.I. labour market, prices, tourism, consumer spending, manufacturing, construction, government and the primary industries. The vigorous economic growth of the province in 1999 continued into the first quarter of 2000 according to available statistics. In addition the review indicates that the economy expanded more rapidly in 1999 than had previously been estimated.
In a statement to the Legislature, the Provincial Treasurer said, "The provincial economy expanded by some 3.5 per cent in 1999, which is considerably higher than had been originally predicted. As a consequence, employment is increasing at an extraordinary rate." She further noted that, "Employment on P.E.I. has grown by 8.2 per cent since September 1999, on a seasonally adjusted basis. This compares to 1.8 per cent for Canada and is easily the highest rate of expansion in the country."
Individuals and organizations wishing to receive a copy of the report can contact Island Information Service, or electronic copies can be obtained from the government internet site at http://www.gov.pe.ca.
Island Information Service can be reached at: PO Box 2000, Charlottetown PE C1A 7N8; by phone at 368-4000 or toll-free 1 (800) 236-5196; by fax (902) 368-5544; by e-mail at email@example.com.