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British Columbia’s real GDP expected to be the second best in Canada for 2018

• In the Royal Bank of Canada’s Provincial Economic Outlook for March 2018, British Columbia ranked second amongst all provinces  - for the second consecutive year - in Real GDP growth. The province has performed extremely well in recent years, ranking first for growth in both 2015 and 2016.

• What is keeping the province’s Real GDP near the top? The housing market. But also the wholesale and retail industries, and the healthy growth in other industries (public administration, transportation & warehousing, etc.) as well. 

• The positive Real GDP growth has put pressure on both the industrial and office markets. This is because new businesses are entering the market for the first time or expanding within it, and this has meant a greater demand for space. 

Source: RBC Economic Research Provincial Outlook – March 2018

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