RBC Economics expects BC economy to lead the country in pace of growth this year

Must Read

Highway 97 closed between Dawson Creek and Chetwynd

UPDATE - The Highway is open to single-lane alternating traffic. DAWSON CREEK, B.C. -...

Provincial Election taking place October 24, Elections BC provides voters with information

FORT ST. JOHN, B.C. - The writs have been issued for British Columbia’s 42nd Provincial General Election. It was announced on...

11 new COVID-19 cases, one additional death within Northern Health Region

VICTORIA, B.C. – 11 new cases of COVID-19 were confirmed on Monday, bringing the total in the Northern Health...

RBC Economics’ Provincial Outlook assesses the provinces according to economic growth, employment growth, unemployment rates, retail sales, housing starts and consumer price indices – and their latest edition suggests BC is expected to record a country leading pace-of-growth this year.

RBC senior economist Robert Hogue concedes real economic activity is not spread throughout the BC economy, but says the consumer sector is firing on all cylinders – with substantial strength in retail sales and the housing market.

“We believe those sectors will lead for the entire economy to grow at a fairly brisk pace again this year,” said Hogue. “So it’s a pretty good period of growth for the province at this stage.”

- Advertisement -

Canada is pushing for renewal with the BC Lumber Trade Council arguing the agreement has benefited both countries.

But, the US Lumber Coalition wants it scrapped claiming among other things changing timber costs have not been incorporated in BC lumber costs.

The Americans have long argued that under the current agreement the Canadian lumber industry is unfairly subsidized by the federal and provincial governments.

- Advertisement -

Community Interviews with Moose FM


Subscribe to our newsletter

Get the latest news delivered to your mailbox every morning.

More Articles Like This