{"id":83179,"date":"2014-06-12T13:25:00","date_gmt":"2014-06-12T13:25:00","guid":{"rendered":"https:\/\/resourcework2.devstudio.work\/?p=83179"},"modified":"2024-11-18T15:32:26","modified_gmt":"2024-11-18T15:32:26","slug":"bcs_economy_expected_to_grow_faster_than_canadas","status":"publish","type":"post","link":"https:\/\/resourcework2.devstudio.work\/?p=83179","title":{"rendered":"Report: BC\u2019s economy to grow faster than Canada\u2019s"},"content":{"rendered":"\n

In the bank\u2019s recent provincial outlook<\/a> report it predicts healthy GDP growth rates of 2.1 percent in 2014 and 2.8 percent in 2015. That\u2019s slightly above the expected rate of growth for Canada as a whole in 2015, which is 2.7 percent.<\/p>\n\n\n\n

\"\"
Charts from RBC Provincial Outlook, June 2014<\/em><\/figcaption><\/figure>\n\n\n\n

Emphasis on trade and resources<\/strong><\/h4>\n\n\n\n

Bumping up BC\u2019s economic growth is external trade, fuelled largely by the province’s natural resources. BC has had some ups and down on this front so far in 2014. A 28-day port strike in March slowed down our exports; however, an unusually cold winter in the US boosted sales of BC electricity and natural gas early in the year.<\/p>\n\n\n\n

RBC expects BC\u2019s trade with both the US and China will increase over the next year. In particular, the US is expected to start building a lot more houses, which bodes well for the BC forestry sector.<\/p>\n\n\n\n

This means, of course, that natural resources will play a major role in fuelling economic growth in BC. <\/p>\n\n\n\n

Looking forward to LNG<\/strong><\/h4>\n\n\n\n

The economists at RBC carefully avoid putting too much emphasis on the impact of LNG at this early stage, writing that the industry faces a \u201clong (and possibly windy) road ahead.” That said, there is a chance that one or more of BC\u201ds LNG front runners will announce final investment decisions in 2015, leading to some significant LNG-related spending that year. The truly large investments, however, aren\u2019t expected until later years.onsidering that nearly four fifths of our commodity exports are natural-resource products.<\/p>\n\n\n\n

Peter Severinson is the research director for Resource Works.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The bank\u00a0predicts healthy GDP growth rates above the expected rate of growth for\u00a0the country\u00a0as a whole<\/p>\n","protected":false},"author":27,"featured_media":86268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3,2],"tags":[18,32,25,20,388,124],"class_list":["post-83179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forestry","category-oil-gas","tag-economy","tag-energy","tag-lng","tag-natural-gas","tag-rbc","tag-trade"],"acf":[],"yoast_head":"\nReport: BC\u2019s economy to grow faster than Canada\u2019s -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/resourcework2.devstudio.work\/bcs_economy_expected_to_grow_faster_than_canadas\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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