BC outlook looks good

Photo: Flickr/BC Gov't

The Business Council of British Columbia has improved its outlook for the provincial economy due in part to a stronger-than-expected job market.

In its mid-year review, the council has boosted its forecast for economic growth this year to 2.7 per cent, up from 2.2 per cent forecast early this year.

It credits robust consumer spending and a job market that has defied expectations, with employment growth hitting a 23-year high of 4.1 per cent in the second quarter.

But a rise in interest rates and B.C.'s wildfires pose a growing risk to the economic outlook, the council said.