Quote:
Originally Posted by Gridlock
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.
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Economy stinks here. Think tanks can say what they want, but in the end of the day, CA Firms are laying off people due to lack of work, good jobs are nonexistent.
Government spending will be the only thing that keeps us out of a recession