Provincial Outlook Economic Forecast: Alberta—Spring 2019

The Conference Board of Canada, 61 pages, June 7, 2019
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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

  • A recession is expected this year due to mandated cuts to oil production and another year of significant declines in energy investment.
  • Real business investment is projected to shrink in 2019 for a fifth consecutive year.
  • Real household spending is forecast to grow by less than 1 per cent this year as households face a mild recession.
  • Housing starts look set to contract severely this year, the second year in row.
  • Real GDP growth will bounce back in 2020 as the production cuts come to an end and new pipeline and rail capacity allows for more normal oil production volumes.

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