B.C.’s economy set to outpace other provinces.

Oct 6, 2016 | 7:06 AM

TORONTO – British Columbia’s economy is on track to lead the other provinces in growth this year, according to a report from BMO Financial Group.

It estimates B.C.’s economy will grow by 3.0 per cent this year _ more than twice the national growth of 1.2 per cent.

But BMO says neighbouring Alberta is in a recession, with its economy expected to shrink by another 2.3 per cent _ following a decline of 4.0 per cent in 2015.

The banking group says the downturn in Alberta’s energy sector has spilled into other parts of the economy and the provincial unemployment rate is above eight per cent for the first time since the early 1990s.