Economy Expected to Ease in New Year

By 250 News

The independent Economic Forecast Council has revised its 2006 and 2007 average growth forecasts for B.C.

The Council now says it expects real growth of 4.0% for 2006, up from the previous prediction of 3.6%

For 2007, the forecast is for economic growth of 3.4%, which is more than the previous forecast of 3.2% but still shows a slowing in the economy.

 The risks, say Finance Minister Carole Taylor, could mean a change in the way she approaches the Province’s next spending plan “We may need to increase the prudence in our upcoming budget. On the positive side, many of the forecasters pointed out that domestic demand in B.C. is forecast to be strong - and this will help offset the risks."

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