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Vancouver : Industrial Snapshot - 1Q 2013

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Vancouver : Industrial Snapshot - 1Q 2013

According to RBC, GDP growth in British Columbia will be lower than anticipated in 2013 reaching 1.6% instead of the previously forecasted 2.3%. GDP growth should return to an accelerated rate in 2014 as the economy improves in the United States. Consumer price inflation will remain low in 2013 in part to soft energy prices but also due to the PST tax shift - resulting in a number of services no longer being subject to tax. Industries that are forecasted to grow faster than the economy’s overall rate are: mining, forestry, wood-products manufacturing, primary metal manufacturing, and construction. Growth laggards will be public administration, pulp and paper manufacturing, education, and accommodation-food services.

Source : Cushman & Wakefield

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