Provincial Outlook Economic Forecast: British Columbia—June 2020
The Conference Board of Canada, 15 pages,
June 17, 2020
This quarterly economic forecast for the province of British Columbia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
- Real GDP in B.C. will decline by close to 4.0 per cent this year.
- Growth will rebound and expand by 7.0 per cent in 2021 as the impact of the virus gradually fades and economic activity returns to more normal levels.
- Real household spending will drop by close to 41 per cent (annualized) in the second quarter of this year.
- B.C. exporters will be hurt by slumping demand and weaker commodity prices.