Central 1 senior economist Bryan Yu gave and overview of British Columbia's economy at the recent CanaData West construction industry forecast conference held in Vancouver.
Yu pointed at some positive signs in the Canadian economy, especially B.C., which is seeing growth in housing, tourism and other markets.
Factors of concern for Yu include low energy prices and waning exports, and he cautioned that the new mortgage insurance rules may hamper the housing market to an extent. In fact, Yu cautioned that housing sales will slow, which will affect the construction industry.
Urban areas across Canada are doing well, but rural areas are doing less well due to lower commodity prices and inter-provincial labour leaving to go where the jobs are.