BC Economy Improving

Here is the key findings in the latest BC Infoline stats from the provincial Ministry of Management Services.

Economy
• British Columbia’s economy expanded 2.5% in 2003, marking the first time since 1996 that the province has grown faster than the national average (+2.0%).
• On a per capita basis, real GDP in the province increased 1.6% during 2003, outpacing the national average (+1.1%) for the second year in a row.
• GDP growth in BC continued to be consumer and business driven, with final domestic demand for goods and services increasing significantly (+3.7%) during 2003.
• On a per capita basis, real after tax income in the province edged up 0.3% to $19,758 in 2003.
• British Columbia’s construction industry posted the strongest growth of any major industry in 2003, expanding 9.7% during the year.
• Exports of BC products slipped 1.4% (seasonally adjusted) between August and September, as international shipments levelled off after soaring earlier in the year.
• During the third quarter, the value of BC’s exports to the US and other destinations increased 2.5% (seasonally adjusted).

Housing
• The cost of new housing in BC’s two biggest metropolitan areas continued to climb in September, as a three-year-long upturn in prices.
• Housing starts in the province fell (-20.2%, seasonally adjusted) for the second straight month in October.

Infant Mortality
• Infant mortality rates for aboriginal children are more than twice as high as in the rest of the population, but have been declining.