If you read the papers in this province, you’d think BC had long forgotten about the recession. Every bit of economic good news is trumpeted enthusiastically, from small increases in employment to the latest growth forecast released by private sector economists.
Yet economic forecasting is a notoriously difficult business. Just a year ago, we saw BC’s economic growth forecasts revised downwards after nearly every Statistics Canada news release, as the real economy indicators – unemployment rate, retail spending, housing starts – posted disappointing results monthly. You’d think that the recent economic volatility would make us more cautious as we read about the latest forecast issued by a bank or economic consultancy. Apparently not...
Read the full post by Iglika Ivanova on our blog, Policy Note.
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