Continuing solid economic performances Revenue support of the Canadian federal system Direct and tax-supported debt burdens that compare favorably with Canadian peers Substantive increases in tax-supported and direct debt in the last two years Relatively weak financial performance in the last fiscal year The ratings on the Province of Prince Edward Island (PEI) reflect the following credit strengths: PEI's economy matched the national economy in 2003 as real GDP increased 1.9% (compared with 2% nationally), following a stellar result a year earlier (5.7% for 2001û2002). Employment levels increased solidly from 2002-2003 (2.5%), driving the unemployment rate down to 11% from 12% in 2002, as labor force results were again solid. The pace of economic growth is expected to be moderate
