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Provincial Outlook Economic Forecast: Alberta—Spring 2017

The Conference Board of Canada, 74 pages, July 4, 2017
Report
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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 more balanced world oil market will slowly increase oil prices over the medium term, after an oversupply gutted the market price over the past two years.
  • Real business investment in the province is set to rise by a negligible 0.1 per cent this year, but by 7.2 per cent in 2018, fuelled in large part by the recovery in energy-related investment.
  • Real household consumer spending is projected to grow by 2.8 per cent in 2017, led by purchases of gasoline and motor vehicles.
  • Housing markets will begin to recover in 2018 with 8.3 per cent growth in housing starts as a healthier labour market creates more homebuyers.

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