CTV News: Province 'slipping into deep recession': Business Council of B.C.


In a new economic review released Thursday, the Business Council of British Columbia says the province's economy is "slipping into a deep recession," and is calling on the government to do more.

The organization's Q2 2020 B.C. Economic Review and Outlook forecasts a 7.8 per cent contraction in B.C.'s gross domestic product this year. In March, it was predicting 7.3 per cent. And the recovery will take time.

"In 2021, as the global economy emerges from the deepest downturn in 100 years, BCBC expects a partial recovery in the level of provincial GDP by 4.8 per cent," it says in a release.

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