Provincial Outlook Economic Forecast: Alberta—Summer 2017

The Conference Board of Canada, 64 pages, September 13, 2017
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This quarterly economic forecast for the province of Alberta examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

  • Alberta’s economy is recovering, so much so that it is the fastest growing province this year.
  • Real household consumer spending leads all other provinces by a significant margin and is forecast to increase strongly this year.
  • The housing market has improved but there are concerns of overbuilding in Calgary.
  • Energy investment should improve in Alberta over the near term.
  • The expansion of the energy sector will come from pipeline investment, not from any new major greenfield oil sands projects.
  • Much uncertainty exists about major pipeline projects but, if they proceed, they will support strong energy investment growth next year.
  • The Alberta recovery from the oil price crash will lose speed next year as oil prices struggle to rise.
  • Drilling rebounded swiftly in 2017 but that is not expected to repeat that performance in 2018.
  • Oil production is projected to grow solidly in 2017.

Table of Contents

Executive Summary

Résumé

Alberta—Taking the Lead

  • Consumer Outlook
  • Investment
  • Government
  • Trade Outlook

Appendix A—Forecast Tables

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