Gross things

On April 27, Statistics Canada released a preliminary estimate that British Columbia's gross domestic product had decreased by 0.3 percent in 2008. By comparison, the Campbell administration's February 2008 budget projected the gross domestic product for that year would increase by 2.4 percent - a forecast that was lowered in its February 2009 budget to 1.0 percent. In both cases, those finance ministry estimates were lower than those projected by government's economic forecast council. Nevertheless, the difference between Statistics Canada's and the finance ministry's numbers mean the Campbell administration's audited financial statements for fiscal 2008/09 will be closely examined when they are released sometime next month. The following is a complete copy of those numbers.

2008 Gross Domestic Product Forecast, Budget 2008

Ministry of Finance 2.4 percent
Economic Forecast Council 2.8 percent

2008 Gross Domestic Product Forecast, Budget 2009

Ministry of Finance, 1.0 percent
Economic Forecast Council, 1.3 percent

2008 Gross Domestic Product, Statistics Canada Preliminary Estimates

-0.3 percent

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