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.
Provincial Outlook Economic Forecast: British Columbia—Autumn 2017
Provincial Outlook Economic Forecast: British Columbia—Autumn 2017
Provincial Economic Analysis
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- The B.C. economy will expand by 3.2 per cent this year and 2.7 per cent in 2018.
- While growth will be weaker than the gains of better than 3 per cent we saw from 2015 to 2017, B.C. will lead the country in growth next year
- The slump in the housing sector is the main factor behind the slower growth, as housing starts are expected to drop by close to 2 per cent this year and only negligible growth is anticipated in 2018.
- U.S. duties on imports of Canadian softwood lumber are a key factor behind the anticipated drop of nearly 2 per cent in real forestry output next year.
- The future of the LNG industry in B.C. is in doubt following the decision by two corporations to pull out of projects to construct LNG export terminals.
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