US real GDP growth registered 2.3 per cent in the first quarter of 2018, the slowest pace in a year due to a pullback in spending by households that saw consumer spending post its lowest growth in five years. On the positive side, business investment was solid and exports rose nearly 5 per cent. However, US imports of goods and services from other countries grew only 2.6 per cent.
While steady growth in the United States is generally good news for the BC economy, slow growth in US imports and the ad-hoc approach to trade policy under the current administration still present a significant risk for BC's important export sector.
Copyright British Columbia Real Estate Association. Reprinted with permission.