B.C. GDP growth should be on par with Canadian average

The B.C. Economic Forecast Council is predicting provincial GDP growth will be just slightly above the Canadian average in 2013 and beyond. 

The B.C. Economic Forecast Council is predicting provincial GDP growth will be just slightly above the Canadian average in 2013 and beyond. 

The 14-member group of B.C. economists, business leaders and bankers calculates this year's provincial GDP will come in at 2.1% – down slightly from January's forecast of 2.2%.

The council projects B.C.'s real GDP growth in 2013 to be 2.2% (the Canadian average is predicted at 2.1%).

It projects 2.6% provincial GDP growth in 2014 and 2.6% between 2015 and 2017. That's just 0.1% above the Canadian averages for those years.
The council based its projections on a number of global factors – including the sovereign debt crisis in Europe and the recovery of the American economy – as well as domestic ones, including the potential economic impacts of liquefied natural gas industry, rising household debt, tax competitiveness and skills shortages in the workforce.

The council's advice is sought twice a year as part of the provincial budget process.

"Our government is committed to balancing the budget in 2013-14," Finance Minister Mike de Jong said following the release of the council's projections.

"A balanced budget shows the world B.C.'s economy is stable, secure and ripe for investment. It also protects our triple-A credit rating which allows us to continue to focus our investment in priority areas, including schools, health-care facilities and roads, which support job creation and benefit B.C. communities and families."

nbennett@biv.com

@nbennett_biv

comments powered by Disqus

More from Economy

Real estate sales in the province stall in August

Read Article

Insider trading: September 26, 2017

The following is a list of stock trades made by corporate executives, directors and other company insiders of B.C.’s public companies filed in the week ...

Read Article

B.C. Crown corporations post steady revenue growth

The 20 largest Crown corporations have increased revenue an average of 12% since 2016

Read Article

Taiwanese bike company seeks business in Canada

Country’s bike industry looks to B.C. for growth opportunities and to reverse sales decline

Read Article

BIV on Global BC September 25, 2017: NAFTA talks, round 3; Alibaba ...

Hayley Woodin discusses the third round of NAFTA talks underway in Ottawa. Plus: Alibaba launches payment processing service in Canada

Read Article

Subscribe to our mailing lists

You may withdraw your consent at any time.

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
Business in Vancouver Media Group
303 West 5th Avenue, Vancouver, British Columbia
V5Y 1J6 · Canada
604-688-2398
×