BC Monthly Real GDP Estimate for September 2019 (Updated: December 2, 2019)
The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for September is 1.7 per cent, up slightly from estimated 1.6 per cent annual growth in August. Recently released National Accounts data showed that the BC economy grew 2.6 per cent in 2018, close to our 2018 Nowcast estimate of 2.8 per cent. We are currently tracking 2019 real GDP growth at 2.2 per cent.
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Growth of provincial GDP is a key indicator of economic activity, but provincial GDP data is only available annually and with a considerable delay. That's why we developed the BCREA Nowcast - a tool for tracking monthly growth in the BC Economy. The Nowcast compiles monthly economic data into one easy to understand number, expressed as the year-over-year growth in the BC economy.
As the underlying economic data is released with a one- or two-month lag, our estimates for monthly growth will also lag real-time by two months (e.g., estimated growth in January will be published at the end of March). There are no adjustments to the model estimate except for those due to revisions to the underlying data.
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