(Emma Crawford Hampel – Business in Vancouver)
British Columbia led the country in terms of economic growth between 2014 and 2017, but in 2017 it is expected to dip to second spot after Alberta, according to a Conference Board of Canada report released November 22.
Overall, B.C. is expected to see 3.2% real GDP growth in 2017, compared with 6.7% in Alberta. B.C. will regain top spot in 2018, however, with 2.7% growth in 2018, compared with 2.1% in Alberta.
The drop in economic growth in B.C. in 2018 will come because of a decline in the housing sector, the report forecasts. [...]
Alberta’s strength this year comes from several sectors, in particular a jump in drilling and solid oil production. While this boom is not expected to last, a recent increase in oil prices may strengthen drilling activities. Click here to read more.