Provincial Outlook Economic Forecast: Alberta—Summer 2017
The Conference Board of Canada, 64 pages,
September 13, 2017
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.
- 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
Alberta—Taking the Lead
- Consumer Outlook
- Trade Outlook
Appendix A—Forecast Tables