Global economic climate holding back BC growth: Conf Board
Posted February 23, 2012 9:43 am.
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VANCOUVER (NEWS1130) – BC’s economic growth is being held back as “the global economic climate remains riddled with risk,” according to a think-tank.
The Conference Board of Canada also cites a “sharp pullback in government spending” as a factor that will limit BC’s economy to a gain of 2.1 per cent this year.
It adds that forestry will be limited by “moderating growth in China and only a modest improvement in the US housing market” plus what it calls modest activity in domestic construction. However, mining is expected to do well.
The Conference Board also says BC will have “one of the country’s fastest-growing economies” next year, expanding by 3.6 per cent as the US housing market strengthens.
