Slow But Gradually Improving Growth In Store For BC

  • July 16, 2012
BC Economic Review and Outlook Feb 2012
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.