B.C.’s GDP growth expected to decline in 2024: Desjardins

Source: vancouverisawesome.com vancouverisawesome.com

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B.C.'s economy relies more on the housing market than most provinces. It's a factor that is set to hammer GDP growth next year, according to forecast. Negative economic growth is expected to engulf B.C. through to the end of next year before rebounding in 2025, according to Desjardins’ latest provincial outlook released last week. The financial institution sees the economy contracting, hitting -0.1 per cent growth in 2024. That’s down from 2023’s forecasted GDP growth of 0.7 per cent. It will be the first time growth has dipped into negative territory since 2020. The only other province forecasting negative growth...