B.C. economy forecast to fall from top but stay strong despite housing crunch
VICTORIA — British Columbia’s high performance economic engine is forecast to gear down this year as the province’s housing market cools, say some economic experts.
B.C.’s economy has led Canada over the past two years, but that trend is not expected to hold in 2017, with Manitoba and Ontario projected to lead the country, says an RBC Economics forecast.
Job creation and economic growth are important for Premier Christy Clark as her government seeks a fifth consecutive mandate in May’s provincial election.
But RBC forecasts the province’s economic growth will slip below the national average for the first time in six years. RBC expects B.C.’s economy to grow by 1.7 per cent, just below the national average of 1.8 per cent.