British Columbia’s Two-Year Outlook—March 2022

Name: British Columbia’s Two-Year Outlook—March 2022
SKU: 11564-0405-WEB
Availability: InStock

Canadian Economics

March 30, 2022

Provincial Economic Analysis

Pages:18 pages31 min read

Author: Signal49 Research

$705.00

This quarterly economic forecast for the province of British Columbia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions. Despite significant obstacles ahead for British Columbia’s economy, we expect real GDP to grow by 3.5 per cent in 2022 and 2.9 per cent in 2023. Strained provincial labour markets will be a hurdle for economic growth. Job vacancies in B.C. remain high, especially in the construction, transportation and warehousing, and arts, entertainment, and recreation sectors. Business investment in B.C. is set to rise in 2022 as major non-residential projects continue. But opposition to industrial development and legal developments in the province may increase investor uncertainty.

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Document Highlights

Despite significant obstacles ahead for British Columbia’s economy, we expect real GDP to grow by 3.5 per cent in 2022 and 2.9 per cent in 2023.

Strained provincial labour markets will be a hurdle for economic growth. Job vacancies in B.C. remain high, especially in the construction, transportation and warehousing, and arts, entertainment, and recreation sectors.

Business investment in B.C. is set to rise in 2022 as major non-residential projects continue. But opposition to industrial development and legal developments in the province may increase investor uncertainty.