Slow But Gradually Improving Growth In Store For BC

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Highlights

  • BC’s economic growth in 2011 was modest and uneven.
  • The first half of the year was particularly weak, as global equity markets underwent a steep sell-off, the American economy stumbled, the earthquake and tsunami sent Japan into a temporary recession, and financial stresses in the Eurozone escalated.
  • Towards the end of the year, economic conditions in the US improved and, judging by job growth and a handful of other indicators, BC’s economy also appeared to pick up.
  • This helped the province’s real gross domestic product (GDP) to expand by an estimated 2.0% in 2011. BC’s performance was reasonable compared to many other advanced economies, and was in the middle of the provincial growth rankings within Canada.