2008-01-12

British Columbia maintains modest economic growth, says RBC

British Columbia's economic growth is on track and expected to come in at 2.5 per cent in 2008 and three per cent in 2009, but continues to face long-term pressures on future economic growth, according to a provincial economic outlook released today by RBC.

"Several of British Columbia's key cyclical growth drivers are at turning points, capital spending will likely peak over the next few years, vulnerable exports are being hit, and the pine beetle threat still looms," said Craig Wright, senior vice-president and chief economist, RBC. "Growth will slow as the balance of risks to the province's economy over the long term has swung more towards the pessimist's camp."