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Gridlock · 09-27-2013, 08:22 AM

Vancouver economy to slow down: Conference Board | News1130

VANCOUVER (NEWS1130) – Vancouver’s economy is expected to moderate this year, according to a forecast from the Conference Board of Canada. It predicts local gross domestic product will rise by 2.2 per cent this year, down 4/10ths of a point from last year.

The think-tank says “The slowdown will be widespread, as growth in the goods sector will be very tame, mainly because of much slower growth in manufacturing and construction activity.” It adds that slower growth will also affect employment.

The board also says growth in the service sector will be “relatively modest, dragged down by an anticipated contraction” in public sector administration.

Nonetheless, Vancouver is expected to have the fifth-best growth behind Saskatoon, Regina, Edmonton and Calgary.

09-27-2013, 08:22 AM	#1258
Gridlock Banned By Establishment Join Date: Dec 2003 Location: New West Posts: 3,997 Thanked 2,982 Times in 1,135 Posts Failed 284 Times in 109 Posts	Vancouver economy to slow down: Conference Board \| News1130 VANCOUVER (NEWS1130) – Vancouver’s economy is expected to moderate this year, according to a forecast from the Conference Board of Canada. It predicts local gross domestic product will rise by 2.2 per cent this year, down 4/10ths of a point from last year. The think-tank says “The slowdown will be widespread, as growth in the goods sector will be very tame, mainly because of much slower growth in manufacturing and construction activity.” It adds that slower growth will also affect employment. The board also says growth in the service sector will be “relatively modest, dragged down by an anticipated contraction” in public sector administration. Nonetheless, Vancouver is expected to have the fifth-best growth behind Saskatoon, Regina, Edmonton and Calgary.