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Lacklustre economic growth expected in B.C. this year: report

Combination of local and global factors adds up to a forecast of 0.7% economic increase
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B.C.香蕉视频直播檚 economy grew by just 0.9 per cent in 2023 and is forecast to grow only 0.7 per cent in 2024. THE CANADIAN PRESS/Adrian Wyld The mayor of Delta, B.C., calls the lack of communication from FortisBC 香蕉视频直播渁n egregious oversight香蕉视频直播 after the utility company failed to notify the public for more than four hours after a gas leak at a renewable gas plant. British Columbia香蕉视频直播檚 provincial flag flies on a flagpole in Ottawa, Friday, July 3, 2020. THE CANADIAN PRESS/Adrian Wyld

A new report ahead of next week香蕉视频直播檚 B.C. budget is forecasting slower economic growth for the province this year.

The Business Council of British Columbia says 香蕉视频直播渓acklustre香蕉视频直播 growth globally, high interest rates and weak private-sector job and investment numbers all add up to 香蕉视频直播渁 drag on prosperity香蕉视频直播 in 2024.

The report says while large capital projects in the province 香蕉视频直播渇uelled strong gains香蕉视频直播 in per-capita GDP, B.C.香蕉视频直播檚 economy grew by just 0.9 per cent in 2023 and is forecast to grow only 0.7 per cent in 2024.

The group香蕉视频直播檚 report says job growth in B.C. reached 1.5 per cent in 2023, with private-sector employment falling 0.2 per cent, or about 6,000 jobs.

Group senior vice-president and chief economist Ken Peacock says in a statement the combined picture is 香蕉视频直播渃oncerning,香蕉视频直播 with the winding-down of capital projects such as LNG Canada and the Site C dam creating further economic challenges for B.C.

The government is slated to unveil its new budget next Thursday, and both Premier David Eby and Leader of the Opposition Kevin Falcon are scheduled to discuss policy in media briefings later today.

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