B.C. will end 2019 with slower than expected economic growth, according to a Business Council of BC (BCBC) economic review and outlook.
“Economic growth is expected to remain sluggish over the remainder of the year, leading to a poor hand-off into 2020,” Ken Peacock, chief economist for the BCBC, said in a news release. “This will have a negative impact on the provincial government’s revenue forecast.”
For the second time this year, the BCBC has had to adjust its economic growth projections for B.C.’s economy for 2019. It was originally forecast at 2.2%, then downgraded to 2%. The BCBC has now downgraded it again to 1.8%.