March 28, 2024

BC growth rate a little slower this time around

 

The rate of economic growth in BC is forecast to drop a little this year.
 
Bank of Montreal Chief Economist Sherry Cooper says BC’s growth rate last year was 2.9%.
 
This year, it’s projected to drop down to 2.3%; she says that is still above the Canadian average, “We got the February GDP figures which showed a slowdown in the mining sector as well as in manufacturing and net exports. That’s very important for Vancouver and the BC economy as a whole.”

Meanwhile, Cooper says residential construction in Vancouver is expanding, and population growth is slowing, though is still above national and provincial averages.

CKNW Vancouver News

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