Provincial Outlook Economic Forecast: Alberta—Spring 2019
The Conference Board of Canada, 61 pages,
June 7, 2019
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.
- 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.