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BC Economic Growth

/ 97.3 The Eagle

A British Columbia credit union says the province’s economy will weather a predicted downturn in the housing industry this year. The latest forecast from Central 1 says economic growth in the province will drop to 2.3 per cent this from a sizzling 3.8 per cent last year — but will strengthen to 2.7 per cent in 2018 and ’19. Central 1 says after a 33-per-cent surge in 2016, housing starts in B-C are expected to tumble by 13 per cent this year, but it predicts government spending and higher commodity prices will pick up the slack. The forecast warns, though, that ongoing softwood lumber trade talks with the U-S and the risk of tariffs could be a drag on growth.

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