Vaccines to boost B.C. economy more than previously expected: RBC

March 15, 2021

While vaccines are offering hope to British Columbians for a return to a normal life in the coming year, the prospect of mass vaccinations is also brightening the outlook for province’s economy.

RBC economists are now forecasting B.C.’s real GDP will grow 5.9% in 2021 — up from the 5.1% growth projected in December 2020.

Canadian regulators had only approved two vaccines as of December, while doses from Pfizer Inc. (NYSE:PFE) and Moderna Inc. (NYSE:MRNA) were trickling in at a snail’s pace.

Health Canada has since given the nod to two more vaccines and the country is expecting a total of eight million doses from three manufacturers by the end of March.

Source: Business in Vancouver