VANCOUVER (NEWS1130) – BC’s economy is predicted to grow by little more than two per cent this year, but Vancouver will top three per cent according to a think-tank.

The Conference Board of Canada forecasts that our city’s economy will  expand 3.1 per cent this year, down half a point from last year, and then 3.3 per cent in 2013 through 2016.

The board says Vancouver’s manufacturing sector “continues its strong recovery following a severe contraction during the recession, while construction activity is being bolstered by a surge in housing starts.”

It adds that “a strong performance in the wholesale and retail trade sector will be somewhat offset by mediocre results in the public sector.”

It forecasts Vancouver’s employment to rise 2.5 per cent this year, with personal incomes gaining 4.2 per cent, meaning “consumers are expected to once again open up their wallets this year” for a 5.5 per cent gain in retail sales.