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Local economies of three British Columbia areas among Canada’s fastest-growing

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Three areas in British Columbia are expected to be among Canada’s fastest-growing, according to The Conference Board of Canada’s “Metropolitan Outlook: Winter 2018” report.

Two of the areas, Vancouver and Abbotsford-Mission, are forecast to be the fastest-growing census metropolitan areas in Canada this year, according to the report. The organization also noted strong growth in the economy of Victoria.

In Vancouver, real GDP growth is forecast to ease to 2.7% in 2018, but the metropolitan area will remain Canada’s fastest-growing. A cooling housing market, due to rising interest rates and the expansion of a mortgage stress test, is central to the organization’s expectation

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