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.
Document Highlights
After expanding by 2.3 per cent in 2018, real GDP in B.C. is expected to rise 2.4 per cent in 2019 and 2.6 per cent in 2020.
B.C. had the highest rate of job vacancies of all the provinces in 2018. Combined with solid wage growth and strong employment gains at the beginning of 2019, the province’s labour market remains tight.
With slower growth in residential investment on the horizon, non-residential investment, particularly the construction of LNG Canada’s natural gas project, will play a larger role in B.C.’s investment profile.
Tourism is likely to be impacted in the short term by strained relations between Canada and China.
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