B.C. economy to grow more slowly over next two years: Central 1 Credit Union
VANCOUVER — A British Columbia credit union says the province’s economy will remain strong through 2019, but Metro Vancouver’s once-sizzling housing market will no longer fuel the growth.
The latest forecast from the Central 1 Credit Union says the total amount of goods and services produced in B.C. will climb by 2.3 per cent in 2017.
Central 1 says B.C.’s economic growth this year will fall far short of the 3.8-per-cent expansion recorded in 2016, although growth is expected to rebound by almost half of a percentage point to 2.7 per cent in 2018 and 2019.
It says a low Canadian dollar will help the export of goods and services but stronger commodity prices will push up overall price levels, as consumer prices edge up about two per cent this year and 1.8 per cent in the following two years.