There are “bumps ahead,” for the Canadian economy, agreed Finlayson, who provided an economic review and outlook for Canada and B.C. Nationally, there has been a slowdown in residential real estate activity, but solid job creation and low unemployment. The Canadian economy is also struggling when it comes to export growth, growing at an average of 2.5 per cent annually compared to the six per cent global average.
Provincially, B.C. has outperformed the country in the last few years when it comes to exports, thanks to the forest sector. “Forestry remains the core of the B.C. economy, generating 33 to 38 per cent per year of merchandise exports,” Finlayson said.