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BC Economic Outlook

/ 97.3 The Eagle

Business Council of British Columbia says the provincial economy is poised to lose momentum this year, due to slowing in the real estate market, consumer spending and exports. The council’s annual economic review forecasts gross domestic product, or the value of goods and services provided, will slow to an average pace of 2.2 per cent for this year, with a similar performance expected for 2018. The report notes that in 2016, B-C saw its strongest job growth since 1994, but it says the employment boom won’t be sustained. The council also says the near-certain imposition of stiff U-S penalties for softwood lumber imports from B-C also weighs on the province’s exports for 2017 and 2018.

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