Strong Economic Outlook for BC’s Forestry Industry

CBC Reports that although Alberta’s economy may be suffering, the outlook for BC’s Forestry Industry remains strong.

Expect a recession this year in Alberta and Newfoundland and Labrador, while British Columbia will have the highest growth, according to a new outlook from the Conference Board of Canada.

There are “winds of change” blowing through the Canadian economy, it said, that will shift economic growth to Central Canada, Manitoba and B.C.

“The outlook is more upbeat in Quebec and Ontario than it has been in years,” the report says.

“While flagship sectors, such as auto assembly and aerospace, face stiff external competition, exports in general will benefit greatly from the weaker loonie and better U.S. performance.”

A combination of strong exports, especially of forestry and building products, and a hot housing market will have B.C. leading growth this year, with its GDP expanding by 3.1 per cent…

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