P.E.I. economy OK despite recession, says finance minister

Although Canada may officially be in a recession, P.E.I. continues to see economic growth in several key areas, says Finance Minister Allen Roach.

He says a lower Canadian dollar is creating more markets for the province's international exports, which rose 6.2 per cent in the first half of this year. That follows a record $1 billion year in 2014.

Earnings growth in the province was the highest in Canada at 3.8 per cent through May, he says.

Roach also notes vehicle sales increased 8.6 per cent so far this year after reaching an all-time high in 2014 and lobster prices and landings are both up during the spring and fall seasons.

"The diversification of our economy that we've worked on for a number of years, I think is paying off very well for us now," said Roach.

"We may see some residual effects but, all in all, I think we're doing quite well with our economy right now."

The minister says tourism traffic increased in July, and the Charlottetown Airport had a record-setting June for passenger arrivals.